Reference no: EM132483728

Question - On March 1, 2021, Landon Company acquired real estate on which it planned to construct a small office building. The company paid $110,000 in cash. An old warehouse on the property was razed at a cost of $9,300; the salvaged materials were sold for $1,700. Additional expenditures before construction began included $1,100 attorney's fee for work concerning the land purchase, $4,000 real estate broker's fee, $7,800 architect's fee, and $14,000 to put in driveways and a parking lot.

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