Question 12 Questions 13 and 14 are based on the following information: Bono Company recently incurred the following costs: (1) Purchase price of land and dilapidated building (2) Real estate broker's commission (3) State Taxes for purchase of Land $250,000 $ 14,000 $ 7,000 (4) Net demolition costs of dilapidated building $ 44,000 (5) Excavation costs for new building $ 25,000 (6) Architect's fees and building permits (7) Costs associated with new building construction (8) Costs associated with new furniture and equipment (9) Cost of security guards to protect finished building (10) Cost of party to inaugurate the building (11) Costs of walks, driveways, and parking lot Land should be recorded on Bono's books at $ 30,000 $950,000 $250,000 $120,000 $ 16,000 $ 55,000 $370,000. O $271,000. $315,000. $308,000.