Bono Company recently incurred the following costs: 1. Purchase price of land and dilapidated building $350,000 14,000 39,000 24,000 2. Real estate broker's commission 3. Demolition costs of dilapidated building 4. Sale of materials of demolished building 5. Architect's fees and building permits 6. Costs associated with new building construction 7. Costs associated with heating and cooling systems for new building 8. Costs of Real Estate Taxes for the first year after completion 9. Costs of walks, driveways, and parking lot 30,000 950,000 250.000 75,000 55.000 Land should be recorded on Bono's books at $379,000 $364,000 $403,000 $388,000