On August 1, 2019, Gregg Corporation purchased a new machine against a loan payable. A down payment of $3,000 was made and 4 annual installments of $6,000 each are to be made beginning on September 1, 2019. The cash equivalent price of the machine was $24,000. Gregg could not install the machine immediately due to an employee strike incurring $300 of storage costs. Costs of installation (excluding the storage costs) were $800. What amount should Gregg capitalize as the cost of the machine?

		$25,100.
		$24,800.
		$23,800.
		$24,000.
		$27,000.