On March 1, Bartholomew Company purchased a new stamping machine with a list price of $72,000. The company paid cash for the machine; therefore, it was allowed a 5% discount. Other costs associated with the machine were: transportation costs, $1,500; sales tax paid, $3,520; installation costs, $1,100; routine maintenance during the first month of operation, $1,400. The cost recorded for the machine was:

Multiple Choice

• $73,420.

• $74,520.

• $68,400.

• $75,920.