$$

Your answer is incorrect.

On March $1,2025,$ Sheridan Company acquired real estate, on which it planned to construct a small office building, by paying $$78,000$ in cash. An old warehouse on the property was demolished at a cost of $$7,800$; the salvaged materials were sold for $$1,620.$ Additional expenditures before construction began included $$1,120$ attorney's fee for work concerning the land purchase, $$4,300$ real estate broker's fee, $$8,620$ architect's fee, and $$13,600$ to put in driveways and a parking lot.

$($a$)$ Determine the amount to be reported as the cost of the land.

Cost of the land

$