Current Attempt in Progress Crane Company incurs the following costs in purchasing equipment: invoice price, $40,700; shipping, $1,025; installation and testing, $1,500; one-year insurance policy, $2,550. 4 What is the cost of the equipment? Cost of equipment $

Current Attempt in Progress Crane Company incurs the following costs in purchasing equipment: invoice price, $40,700; shipping, $1,025; installation and testing. $1,500; one-year insurance policy, $2,550. What is the cost of the equipment? Cost of equipment $