Anchor Company purchased a manufacturing machine with a list price of $96,000 and received a 2% cash discount on the purchase. The machine was delivered under terms Free On Board shipping point, and freight costs amounted to $4,400. Anchor paid $6,300 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $8,200 for the first year of operations. Based on this information the amount of cost recorded in the asset account would be Multiple Choice O O O O 5:04780 $94.080 $98,480 $112.080 2 # 3 20 W E S x ommand D 2 $ % ss 5 14 R 20 F < Prev 29 Next > MacBook Air & 6 7 8