Acquisition Cost of Long-Lived Asset

The following data relate to a firms purchase of a machine used in the manufacture of its product:

Invoice price	$30,000
Applicable sales tax	2,000
Cash discount taken for prompt payment	400
Freight paid	260
Cost of insurance coverage on machine while in transit	125
Installation costs	3,000
Testing and adjusting costs	475
Repair of damages to machine caused by the firms employees	750
Prepaid maintenance contract for first year of machines use	300

Determine the acquisition cost of the machine. Acquisition Cost = $