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A company purchased new equipment for $50,000 by paying cash. The company also paid $2,000 to have the equipment delivered, $3,000 for sales taxes related

A company purchased new equipment for $50,000 by paying cash. The company also paid $2,000 to have the equipment delivered, $3,000 for sales taxes related to the equipment, and $1,000 for installation. The total capitalized cost reported for the equipment was

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