Village Delivery Company purchased a lot to construct a new warehouse for $$340,000,$ paying $$35,000$ in cash and giving a short$-$term note for the remainder. Legal fee paid in connection with the purchase were $$2,290,$ delinquent taxes assumed were $$11,300,$ and fees paid to remove an old building from the land were $$20,900.$ Materials salvaged from the demolition of the building were sold for $$5,600.$ A contractor was paid $$1,140,000$ to construct a new warehouse.

Determine the cost of the land to be reported on the balance sheet.