Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $440,000. Shipping costs totaled $15,100. Foundation work to house the centrifuge cost $8,500. An additional water line had to be run to the equipment at a cost of $3,400. Labor and testing costs totaled $5,900. Materials used up in testing cost $2,400. What is the Total Cost of Equipment? How much of this amount should be expensed immediately