Mad Hatter Enterprises purchased new equipment for $357,000, terms f.o.b. shipping point. Other costs connected with the purchase were as follows:

State sales tax	28,400
Freight costs	4,800
Insurance while in transit	720
Insurance after equipment placed in service	1,120
Installation costs	1,600
Insurance for the first year of operations	2,000
Testing	620

Required:

Determine the capitalized cost of the equipment.