Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $490,000. Shipping costs totaled $12,400. Foundation work to house the centrifuge cost $9,000. An additional water line had to be run to the equipment at a cost of $3,700. Labor and testing costs totaled $4,700. Materials used up in testing cost $2,900. (Leave no cells blank. Enter O where needed.) a. What is the total cost of the equipment? 2 Cost of the equipment b. How much of this amount should be expensed immediately? Immediately expensed