Questions 10 and 11 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) (4) (5) Net demolition costs of dilapidated building Excavation costs for new building Architect's fees and building permits $350,000 14,000 39,000 44,000 30,000 (6) Costs associated with new building construction 950,000 (7) Costs associated with new furniture and equipment 250,000 (8) Actual interest costs during building construction 168,000 (9) Actual interest cost after completion of building construction (10) Costs of walks, driveways, and parking lot 120,000 55,000 10. 10 The building should be recorded on Bono's books at a. $880,000. b. $924,000. c. $963,000. d. $1,192,000. 11. Land should be recorded on Bono's books at a. $350,000. b. $364,000. c. $403,000. d. $433,000.