Mad Hatter Enterprises purchased new equipment for $366,000, terms f.o.b. shipping point. Other costs connected with the purchase were as follows: State sales tax $29,300 5,700 Freight costs Insurance while in transit 810 Insurance after equipment placed in service 1,210 2,050 2,450 Installation costs Insurance for the first year of operations Testing d 710 Required: Determine the capitalized cost of the equipment. ces Cost of equipment