On March 1, 2025, Cullumber Company acquired real estate, on which it planned to construct a small office building, by paying $81,500 in cash. An old warehouse on the property was demolished at a cost of $8,500; the salvaged materials were sold for $1,760. Additional expenditures before construction began included $1,260 attorney's fee for work concerning the land purchase, $4,650 real estate broker's fee, $8,760 architect's fee, and $14,300 to put in driveways and a parking lot. (a) Determine the amount to be reported as the cost of the land. Cost of the land