Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $480,000. Shipping costs totaled $18,000. Foundation work to house the centrifuge cost $7,100. An additional water line had to be run to the equipment at a cost of $2,800. Labor and testing costs totaled $5,900. Materials used up in testing cost $2,000. The capitalized cost is:

Multiple Choice

• $515,200.

• $507,900.

• $498,000.

• $515,800.