Blossom Company purchased equipment on account on September 3, 2022, at an invoice price of $202,000. On September 4, 2022, it paid $5,500 for delivery of the equipment. A one-year, $2,005 insurance policy on the equipment was purchased on September 6, 2022. On September 20,2022 , Blossom paid $2,500 for installation and testing of the equipment. The equipment was ready for use on October 1, 2022 Blossom estimates that the equipment's useful life will be four years, with a residual value of $17,000. It also estimates that, in terms of activity, the equipment's useful life will be 77,200 units. Blossom has a September 30 fiscal year end. Assume that actual usage is as follows: (a) Determine the cost of the equipment. Cost of equipment $