On March 1, 2025, Ivanhoe Company acquired real estate, on which it planned to construct a small office building, by paying $82,000 in cash. An old warehouse on the property was demolished at a cost of $8,600; the salvaged materials were sold for $1,780. Additional expenditures before construction began included $1,280 attorney's fee for work concerning the land purchase, $4,700 real estate broker's fee, $8,780 architect's fee, and $14,400 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 $