1 Reading Corporation purchased a new machine on October 31, 2020. A $4,800 down payment was made and three monthly installments of $14,400 each are to be made beginning on November 30, 2020. The cash price would have been $46,400. Smith paid no installation charges under the monthly payment plan but an $800 installation charge would have been incurred with a cash purchase. The amount to be capitalized as the cost of the machine on October 31, 2020 would be Select one: Oa. $47,200. O b. $48,800 O c. $46,400. Od. $48,000 ons.pd 62 % 5 T 42 & Fin Tan