On August 1, 20214, Arizona Cardinals purchased a new machine on a deferred payment basis. A down payment of $12,000 was made and 4 monthly installments of $12,000 each are to be made beginning on September 1, 2014.The cash equivalent price of the machine was $48,000. The Cardinals incurred and paid installment cost amount to $2,000. The amount paid to be capitalized as the cost of the machine is