Determining Amount of PP&E to Capitalize AMP Corporation purchased new manufacturing equipment with an invoice cost of $50.000, plus sales tax of 6% on the selling price AMP also incurred a treghe charge of 10% of the Selling price to obtain the equipment and paid an outside consultant $500 for installation of the equipment. AMP retained the services of the consultant for an additiona few days for $1.000 to help employees train on the equipment's operations. Insurance premiums Increased by 5300 for the year related to the equipment usage. The company also received $1.000 for the residual value of the machine that was replaced Determine the amount AMP Should capitalize for equipment related to the purchase