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On March 1, Zane Company purchased a new stamping machine with a list price of $23,280. Other costs associated with the machine were: transportation costs,
On March 1, Zane Company purchased a new stamping machine with a list price of $23,280. Other costs associated with the machine were: transportation costs, $1,270; sales tax paid, $1,680; installation costs, $450; routine maintenance during the first month of operation, $500. The cost recorded for the machine was:
$23,730.
$24,000.
$26,680.
$25,960.
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