Pharoah Enterprises purchased equipment on March 15,2025 , for $67,600. The company also paid the following amounts: $450 for freight charges, $210 for insurance while the equipment was in transit, $1,620 for a one-year insurance policy, $1,890 to train employees on how to use the new equipment, and $2,540 for equipment testing. and installation. The company began to use the equipment on April 1. Pharoah has estimated the equipment will have a 10 -year useful life with no salvage value. It expects to consume the equipment's economic benefits evenly over its useful life. The company has a December 31 year-end. (a) Calculate the cost of the equipment. Cost of the equipment $