Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $450,000. Shipping costs totaled $24,000. Foundation work to house the centrifuge cost $8,500. An additional water line had to be run to the equipment at a cost of $2,200. Labor and testing costs totaled $6,000. Materials used up in testing cost $3,800. The capitalized cost is:

Multiple Choice

• $494,500.

• $494,900.

• $474,000.

• $484,700.