Question 2 3.25 pts A company purchased land for $350,000 cash. The real estate brokers' commission was $25,000 and $35,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle, the cost of land is $350,000 O $410,000 O $375,000 $385,000 3.25 pt Question 3 Which of the following is not classified as an intangible asset on the balance sheet