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A company purchased a piece of equipment by paying $10,000 cash. A shipping cost of $650 to get the equipment to its factory was also

A company purchased a piece of equipment by paying $10,000 cash. A shipping cost of $650 to get the equipment to its factory was also incurred. The fair value of the equipment was $8,000 at the time of the purchase. For what amount should the company record the equipment? Multiple Choice $10,000. $10.650. $8.000. $8,650

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