Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $11,800, terms 1/10, 1/60, FOB shipping point. Rizio paid within the discount period and took the $118 discount Transportation costs of $267 were paid by Rizio. The machine required mounting and power connections costing $816. Another $385 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $270 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount Included in Cost of Equipment: Invoice price of machine Net purchase price Total cost to be recorded