Mad Hatter Enterprises purchased new equipment for $369,000, terms f.o.b. shipping point. Other costs connected with...

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Mad Hatter Enterprises purchased new equipment for $369,000, terms f.o.b. shipping point. Other costs connected with the purchase were as follows: State sales tax Freight costs Insurance while in transit Insurance after equipment placed in service Installation costs Insurance for the first year of operations Testing Required: Determine the capitalized cost of the equipment. Cost of equipment $ 29,600 6,000 840 1,240 2,200 2,600 740 Mad Hatter Enterprises purchased new equipment for $369,000, terms f.o.b. shipping point. Other costs connected with the purchase were as follows: State sales tax Freight costs Insurance while in transit Insurance after equipment placed in service Installation costs Insurance for the first year of operations Testing Required: Determine the capitalized cost of the equipment. Cost of equipment $ 29,600 6,000 840 1,240 2,200 2,600 740