Acquisition Cost of Long-Lived Asset The following data relate to a firm's purchase of a machine used in the manufacture of its product 24,000 ,600 800 660 Invoice price Applicable sales tax Cash discount taken for prompt payment Freight paid Cost of insurance coverage on machine while in transit Installation costs Testing and adjusting costs Repair of damages to machine caused by the firm's employees 950 Prepaid maintenance contract for first year of machine's use700 1,400 Determine the acquisition cost of the machine Acquisition Cost 0 Check Save Answers 20 esc F5 F6 FI F2 F3 F4 8