Current Attempt in Progress

On March $1,2022,$ Whispering Winds Corp. acquired real estate, on which it planned to construct a small office building, by paying $$79,500$ in cash. An old warehouse on the property was demolished at a cost of $$11,000$; the salvaged materials were sold for $$2,400.$ Additional expenditures before construction began included $$1,450$ attorney's fee for work concerning the land purchase, $$4,900$ real estate broker's fee, $$7,450$ architect's fee, and $$13,450$ to put in driveways and a parking lot.

$($a$)$

Determine the amount to be reported as the cost of the land.

Cost of land

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