QuestionOn March 1, 2027, Cullumber Company acquired real estate, on which it planned to construct a small office building, by paying $\$ 76,000$ in cash. An old warehouse on the property was demolished at a cost of $\$ 7,400$; the salvaged materials were sold for $\$ 1,540$. Additional expenditures before construction began included $\$ 1,040$ attorney's fee for work concerning the land purchase, $\$ 4,100$ real estate broker's fee, $\$ 8,540$ architect's fee, and $\$ 13,200$ to put indriveways and a parking lot. (a)
Determine the amount to be reported as the cost of the land. Cost of land \$$\square$