Mad Hatter Enterprises purchased new equipment for $369,000, terms f.o.b. shipping point. Other costs connected with the purchase were as follows:

State sales tax	29,600
Freight costs	6,000
Insurance while in transit	840
Insurance after equipment placed in service	1,240
Installation costs	2,200
Insurance for the first year of operations	2,600
Testing	740

Required:

Determine the capitalized cost of the equipment.