Cheng Manufacturing Ltd. recently purchased a group of assets from a bankrupt company during a liquidation auction. The total proceeds paid for the assets were $220,000 and included a specialized lathe, a robotic assembly machine, a laser guided cutting machine, and a delivery truck. To make the bid at the auction, the company hired a qualified equipment appraiser who provided the following estimates of the fair value of the assets, based on their conditions, productive capacities, and intended uses:

Required: Determine the cost of each asset to be capitalized on Cheng Manufacturing Ltd.’s books.

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Specialized lathe Robotic assembly machine Laser guided cutting machine Delivery truck $ 30,000 $ 90,000 $110,000 $ 20,000