On March 1, 2017, Westmorlan Company acquired real estate on which it planned to construct a small office building. The company paid $87,000 in cash. An old warehouse on the property was razed at a cost of $9,300; the salvaged materials were sold for $1,500. Additional expenditures before construction began included $1,200 attorney's fee for work concerning the land purchase, $4,500 real estate broker's fee, $7,800 architect's fee, and $13,000 to put in driveways and a parking lot Determine the amount to be reported as the cost of the land Cost of land