Robbie bought and and a building for $60,000 for use as a parking lot. He paid $7,000 to have the building demolished and sold scrap from the demolished building for $1.500. He then paid $11,000 to lay down asphalt for the lot. What was Robbie's basis in the parking lot at the date of sale? $60,000 $61,500 $76,500 $78,000