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Ed Vedder Co installed a new piece of equipment in its factory. The equipment had an invoice price of $100,000 and sales tax of 5%.
Ed Vedder Co installed a new piece of equipment in its factory. The equipment had an invoice price of $100,000 and sales tax of 5%. Installation costs totaled $10,000. Delivery costs to get the equipment to the factory were $500. The cost of repairs to fix the equipment after an installation mishap totaled $1,100. Determine the total cost of the machine that would show up on the companys balance sheet.
Total acquisition cost [1].
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