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4. Carpino Company purchased equipment and these costs were incurred: Cash price $75,000 Sales taxes 3,500 Insurance during transit 750 Installation and testing 1,500 Total

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4. Carpino Company purchased equipment and these costs were incurred: Cash price $75,000 Sales taxes 3,500 Insurance during transit 750 Installation and testing 1,500 Total costs $80.750 What amount should be recorded as the cost of the equipment? a. $75,000. b. $80,750 c. $79,250. d. $78,500

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