On March 1, 2020, Culver Company acquired real estate on which it planned to construct a small office building. The company paid $86,000 in cash. An old warehouse on the property was razed at a cost of $10,400; the salvaged materials were sold for $3,100. Additional expenditures before construction began included $1,100 attorneys fee for work concerning the land purchase, $5,200 real estate brokers fee, $7,400 architects fee, and $13,700 to put in driveways and a parking lot. (a) Determine the amount to be reported as the cost of the land.