On March 1, 2022, Whispering Winds Company acquired real estate on which it planned to construct a small office building, by paying $90,000 in cash. An old warehouse on the property was demolished at a cost of $9.200; the salvaged materials were sold for $2,000. Additional expenditures before construction began included $1,600 attorney's fee for work concerning the land purchase, $4,800 real estate broker's fee: $7,600 architect's fee, and $14,400 to put in driveways and a parking lot. Determine the amount to be reported as the cost of the land On March 1, 2022, Whispering Winds Company acquired real estate on which it planned to construct a small office building, by paying $90,000 in cash. An old warehouse on the property was demolished at a cost of $9.200; the salvaged materials were sold for $2,000. Additional expenditures before construction began included $1,600 attorney's fee for work concerning the land purchase, $4,800 real estate broker's fee: $7,600 architect's fee, and $14,400 to put in driveways and a parking lot. Determine the amount to be reported as the cost of the land