On March 1, Bartholomew Company purchased a new stamping machine with a list price of $74,000. The company paid cash for the machine; therefore, it was allowed a 5% discount. Other costs associated with the machine were: transportation costs, $1,700; sales tax paid, $3,920; installation costs, $1,200; routine maintenance during the first month of operation, $1,600. What is the cost of the machine?

$77,120

$70,300

$75,920

$78,720