On March $1,2027,$ Ivanhoe Company acquired real estate, on which it planned to construct a small office building, by paying $\backslash (\backslash$$ $76,500\backslash )$ in cash. An old warehouse on the property was demolished at a cost of $\backslash (\backslash$$ $8,800\backslash )$; the salvaged materials were sold for $\backslash (\backslash$$ $1,800\backslash ).$ Additional expenditures before construction began included $\backslash (\backslash$$ $1,150\backslash )$ attorney's fee for work concerning the land purchase, $\backslash (\backslash$$ $4,300\backslash )$ real estate broker's fee, $\backslash$$$7,150$ architect's fee, and $\backslash$$$13,150$ to put in driveways and a parking lot.

$($a$)$

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

Cost of land $\backslash$$