Blossom Enterprises purchased equipment on March 15, 2021, for $72,340. The company also paid the following amounts: $510 for freight charges: $215 for insurance while the equipment was in transit: 51,677 for a one-year insurance policy: $2.130 to train employees to use the new equipment; and $2.935 for testing and installation. The company began to use the equipment on April 1. Blossom has estimated the equipment will have a 10-year useful life with no residual value. It expects to consume the equipment's future economic benefits evenly over the useful life. The company has a December 31 year end. a Calculate the cost of the equipment Cost of the equipment $ Which depreciation method should the company use? Straight-line method Diminishing-balance method Unlts-of-production method Using the method chosen above calculate the depreciation on the equipment for 2021. (Round answer to o decimal places, 6.3.5,275.) Depreciation for 2021 $