LAR Corp purchased a commercial range by paying cash of $12,500. The range's fair value on the date of the purchase was $14,000. The company incurred $600 in transportation costs, $400 installation fees, and paid $500 annual insurance on the equipment For what amount will LAR record the range? Select one: a $13,500 b: $15,500 C$14,500 d $15,000 $14,000