Acosta Inc. purchased a new piece of equipment on January 1, 2019. The equipment had a list price of $180,000, however the seller agreed to allow Acosta Inc.. to pay for the equipment in 14 yearly installments of $20,000 on December 31st of each year. Assuming the note incurs interest at 8%, what amount should Acosta Inc. debit the equipment account for on the date of purchase? $164,880 $280,000 o $178,080 $180,000 O None of the above