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A company purchased a 10-ton draw press at a cost of $171,000 with terms of 1/15, n/45. Payment was made within the discount period. Shipping
A company purchased a 10-ton draw press at a cost of $171,000 with terms of 1/15, n/45. Payment was made within the discount period. Shipping costs were $3,700, which included $400 for insurance in transit. Installation costs totaled $12,700, which included $5,200 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the 10-ton draw press is:
Multiple Choice $189,190. $190,690. $183,690. $185,690.
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