Cornerstone Exercise 7-18 (Algorithmic) Acquisition Cost

Cox Company recently purchased a machine by paying $10,500 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.