On March 1, 2021, Landon Company acquired real estate

Karley Company sold equipment on July 1, 2021 for $75,000
May 5, 2020
Freemen Frank’s Company uses the allowance method for estimating
May 5, 2020

On March 1, 2021, Landon Company acquired real estate on which it

planned to construct a small office building. The company paid $90,000 in cash. An old warehouse on the property was razed at a cost of $8,300; the salvaged materials were sold for $1,300. Additional expenditures before construction began included $1,500 attorney’s fee for work concerning the land purchase, $5,600 real estate broker’s fee, $7,800 architect’s fee, and $14,000 to put in driveways and a parking lot.

What is the amount to be reported as the cost of the land?

 
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