On March 1, 2019, Larkspur, Inc. acquired real estate on which it planned to construct a small office building. The company paid $77,000 in cash. An old warehouse on the property was razed at a cost of $8,600; the salvaged materials were sold for $3,100. Additional expenditures before construction began included $1,700 attorney’s fee for work concerning the land purchase, $6,000 real estate broker’s fee, $7,300 architect’s fee, and $14,500 to put in driveways and a parking lot. Determine the amount to be reported as the cost of the land.
Cost of land $ .