Question 4 of 8 -/1 E View Policies Current Attempt in Progress On March 1, 2022, Sheffield Corp. acquired real estate on which it planned to construct a small office building by paying $82,500 in cash. An old warehouse on the property was demolished at a cost of $9,300, the salvaged materials were sold for $3,000. Additional expenditures before construction began included $1.750 attorney's fee for work concerning the fond purchase, $5,500 real estate broker's fee, 57,750 architect's fee, and $13,750 to put in driveways and a parking lot (a) Determine the amount to be reported as the cost of the land, Cost of land $