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Business, 07.05.2020 12:57 marykatherine

On March 1, 2022, Blossom Company acquired real estate, on which it planned to construct a small office building, by paying $94,000 in cash. An old warehouse on the property was demolished at a cost of $9,300; the salvaged materials were sold for $2,200. Additional expenditures before construction began included $3,100 attorney's fee for work concerning the land purchase, $6,400 real estate broker's fee, $10,900 architect's fee, and $18,600 to put in driveways and a parking lot.

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

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