1. A company incurred the following costs: Purchase price of land $210,000 Survey fees 1,000 Payment for demolition of old building on land 20,000 Back property taxes on land 2,000 Paving costs for parking lot 50,000 Fence around perimeter of land 15,000 Lights in parking lot 90,000 Signs for new business 5,000 What is the cost of the land? A.$231,000 B.$210,000 C.$233,000 D.$283,000 2. A company incurred the following costs for a new delivery truck: Purchase price $150,000 Sales tax 6,100 Delivery charge from seller's location 1,400 Special racks for storage 3,000 Normal repairs to the truck before it was used for the first time 1,100 Signs painted on the truck 2,000 Insurance on truck before it was used for the first time 3,000 What is the cost of the delivery truck? A. 166,600 B. 162,500 C. 157,500 D. 159,500 3. On January 2, 2019, Konrad Corporation acquired equipment for $ 600,000. The estimated life of the equipment is 5 years or 37, 000 hours. The estimated residual value is $ 8,000. If Konrad Corporation uses the units of production method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2020, assuming that during this period, the asset was used 7,000 hours? A.112,000 B.113,514 C.115,027 D.118,400