23 ut of Gamma Ltd is a company registered for VAT. They recently purchased a new item of machinery and the following costs were incurred: List price Trade discount of 10% 250,000 VAT at 20% All the following costs are net of VAT: Delivery to site and installation Five year warranty Staff training Factory decoration prior to installation (25,000) 37,500 262,500 4,500 10,750 5,000 8,140 What is the initial cost of the asset to be included in the accounting records? (Enter the value with no E sign, minus sign, comma or decimal places.) Answer: