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1. Fixed asset cost. IRS acquired some used computer equipment. Installation, $8K, Repair costs prior to use, $9K, the purchasing manager, with a salary of

1. Fixed asset cost. IRS acquired some used computer equipment. Installation, $8K, Repair costs prior to use, $9K, the purchasing manager, with a salary of $54K spent one month evaluating equipment and completing the transaction. The invoice cost was $400K. The seller paid its salesman a commission of 4% and offered the buyer a 2% discount if paid with 60 days. Freight costs were $4K. Repairs during the first year of use were $10K. The IRS borrowed $300K at 10% to pay for the equipment. Whats it cost??

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