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3) A company purchased new equipment for $49,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,000;

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3) A company purchased new equipment for $49,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,000; sales tax paid, $3,700; and installation cost, $2,900. The total capitalized cost reported for the equipment was: A) $53,700. B) $49,000. C) $50,000. D) $56,600

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