12 second exploder? ROFL. Up your budget to $25k then NOT including labor. Obviously you can do it for less if it only has to live through a single pass down the strip, but that would be an even bigger waste.
I haven't been to the strip in my truck, but minimally am in the low 12's and probably even high 11's. Just parts cost: $13k in power adders, $7k in transmission, $5k in brakes, $2k in suspension and I started out with a V8 rig that needed no engine swap. If I were building a non-FI truck and wanted 12's I'd have a good $6-7k in the short block alone. Costs on the DOHC is even higher.
Best part is with your search at the end the value of the truck would be the same as it is today. If you have money to burn, go for it. And yes, I expect that my truck is worth $25,000 less than I have in to it. I knew that going in and don't give a shit.