It's your turn to apply these concepts by answering the following questions. In a recent year, McDonald's Corporation purchased property, plant, and equipment priced at $2.1 billion. Assume that the company also paid $168 million for sales tax; $20 million for transportation costs: $12 million for installation and preparation of the property, plant, and equipment before use: and S1 million n maintenance contracts to cover repairs to the property, plant, and equip. ment during use 1. Compute the acquisition cost for the property, plant, and equipment: 2. How did you account for the sales tax, transportation costs, and installation costs? Explain. 3. Under the following assumptions, indicate the effects of the acquisition on the accounting aqua tion. Use + for increase and - for decrease and indicate the accounts and amounts: STOCKHOLDERS EQUITY ASSETS LIABILITIES a. Paid 30 percent in cash and the rest by signing a note payable. b. Issued 10 million shares of common stock (S0.01 per share par value) at a market price of $83 per share and paid the balance in cash