Mad Hatter Enterprises purchased new equipment for $358,000, terms fo.b. shipping point. Other costs connected with the purchase were as follows: 28,500 State sales tax Freight costs Insurance while in transit Insurance after equipment placed in 4,900 730 points 130 service Print Installation costs Insurance for the first year of operations Testing 1,650 2.050 630 Required: Determine the capitalized cost of the equipment. of