Current Attempt in Progress On August 1, 2017, Bonita Industries purchased a new machine on a deferred payment basis. A down payment of $17500 was made and 4 monthly installments of $14000 each are to be made beginning on September 1, 2017. The cash equivalent price of the machine was $67500 Bonita incurred and paid installation costs amounting to $3500. The amount to be capitalized as the cost of the machine is $67500. $73500 $77000 $71000 Concord Corporation purchased a new machine on October 31, 2017. A $4900 down payment was made and three monthly installments of $14150 each are to be made beginning on November 30, 2017. The cash price would have been $46900. Concord paid no Installation charges under the monthly payment plan but an $770 installation charge would have been incurred with a cash purchase. The amount to be capitalized as the cost of the machine on October 31, 2017 would be O $46900 $49210 $47670. $48440