Equipment is purchased for $55,000 ( $15,000 cash down and execution of a note payable for $40,000 ) with additional cash acquisition costs of $3,400 for state sales tax and $2,000 for delivery. In addition, another $2,000 is incurred and paid to refit the equipment for its initial use. Later, $5,000 worth of routine maintenance is required. The total capitalized cost for the truck is