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Crane Company purchased equipment and these costs were incurred: Cash price $65000 Sales taxes 4100 Insurance during transit 700 Installation and testing 950 Total costs

Crane Company purchased equipment and these costs were incurred:

Cash price $65000

Sales taxes 4100

Insurance during transit 700

Installation and testing 950

Total costs $70750

Crane will record the acquisition cost of the equipment as

A) $65000.

B) $69800.

C) $70750.

D) $69100.

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