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Cornerstone Exercise 7-18 (Algorithmic) Acquisition Cost Cox Company recently purchased a machine by paying $9,700 cash and signing a 6-month, 10% note for $10,000. In

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Cornerstone Exercise 7-18 (Algorithmic) Acquisition Cost Cox Company recently purchased a machine by paying $9,700 cash and signing a 6-month, 10% note for $10,000. In addition to the purchase price, Cox incurred the following costs related to the machine freight charges, $800; Interest charges, $500; special foundation for machine, $400; Installation costs, $1,100. Required: Determine the cost of the machine

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