Mad Hatter Enterprises purchased new equipment for $361,000, terms fo.b. shipping point. Other costs connected with the purchase were as follows: State sales tax Freight costs Insurance while in transit $28,800 5,200 760 Insurance after equipment placed in service Installation costs 1,160 1,800 2,200 660 Insurance for the first year of operations Testing Required: Determine the capitalized cost of the equipment. Cost at equipment 398,220 c taw < Prev 22 of 30 Next >