On March 1, Bartholomew Company purchased a new stamping machine with a list price of $82,000. The company paid cash for the machine; therefore, it was allowed a 5% discount. Other costs associated with the machine were: transportation costs, $2,500; sales tax paid, $5,520; installation costs, $1,600; routine maintenance during the first month of operation, $2,400. The cost recorded for the machine was:

Multiple Choice

$87,520

$89,920

$77900

$85920