Fesco Jewelers Ltd. purchased store fixtures, display cases, and a maximum-security commercial safe for a lump-sum price of $13,000 from a bankrupt competitor. Appraised values were as follows: store fixtures, $8,000; display cases, $11,000; commercial safe, $7,000.

Required:

What cost should be recorded for the commercial safe?(Do not round intermediate calculations.)

I got $3,497 what am I doing wrong?