Jungle Land purchased factory equipment with an invoice price of 70,000 on 6/30/2015. other costs incurred were frieght costs 1800, installation wiring and foundation 2500, material and labor costs in installing equipment 500, fire insurance policy covering the equipment for the coming year 1500, salvage value is 10,000

Jungle land should record as an asset:

A 70,000

B 74,300

C 74,800

D 76,300

E 60,000