A company purchased land for $72,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Proceeds from salvage of the demolished building were $1,200. Under the cost principle, the cost of land would be recorded at what amount? OMIT all dollar signs, commas and decimals. Round to the nearest whole dollar. List numbers only, no letters.