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A company purchased new equipment for $60,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $2,600; sales

A company purchased new equipment for $60,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $2,600; sales tax paid, $3,800; and installation cost, $1,800. The total capitalized cost reported for the equipment was: Multiple Choice $68,200. $60,000. $66,400. $62,600

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