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Corristan Company purchased the equipment and incurred the following costs: Upfront price $24,000 Sales taxes 1,200 Insurance in transit 200 Annual maintenance costs 400 Total

Corristan Company purchased the equipment and incurred the following costs:
Upfront price $24,000
Sales taxes 1,200
Insurance in transit 200
Annual maintenance costs 400
Total cost $25,800
What must be recorded as the cost of the equipment?

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