Crane Enterprises purchased equipment on March $15,2024,$ for $$69,040.$ The

company also paid the following amounts: $$480$ for freight charges; $$208$ for

insurance while the equipment was in transit; $$1,767$ for a one$-$year insurance

policy; $$2,005$ to train employees to use the new equipment; and $$2,752$ for

testing and installation. The company began to use the equipment on April $1.$

Crane 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

$