Dobler Company used factory equipment with an invoice price of 75,000. Other costs incurred were freight costs, $1,3000 installation wiring and foundation, $2,200; material and labor costs in testing equipment $700; oil lubricants and supplies to be used with equipment $500; fire insurance policy covering equipment, $1,500. The equipment is estimated to have a $5,000 salvage value at the end of its 8-year useful service life Instructions: a) Compute the acquisition cost of the equipment. Clearly identify each element of cost b) If the straight-line method of depreciation was used, the annual rate applied to the depreciable cost would be