Question 5 of 5 View Policies Show Attempt History Current Attempt in Progress Your answer is incorrect. 0/1 On March 1, 2022, Ayayai Company acquired real estate on which it planned to construct a small office building, by paying $75,000 in cash. An old warehouse on the property was demolished at a cost of $8,000; the salvaged materials were sold for $1,500. Additional expenditures before construction began included $1,000 attorney's fee for work concerning the land purchase, $4,000 real estate broker's fee, $7,000 architect's fee, and $13,000 to put in driveways and a parking lot. Determine the amount to be reported as the cost of the land. Cost of land $ eTextbook and Media Save for Later Attempts: 2 of 5 used Submit Answer