Question: On March 1 , 2 0 2 5 , Crane Supply Company acquired real estate, on which it planned to construct a small office building,

On March 1,2025, Crane Supply Company acquired real estate, on which it planned to construct a small office building, by paying . $93,500 in cash. An old warehouse on the property was demolished at a cost of $14,900; the salvaged materials were sold for $4,300. Additional expenditures before construction began included $3,700 attorney's fee for work concerning the land purchase, $7,700 real estate broker's fee, $11,300 architect's fee, and $26,500 to put in driveways and a parking lot.
(a)
Determine the amount to be recorded as the cost of the land.
Cost of the land $
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On March 1 , 2 0 2 5 , Crane Supply Company

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