Pharosh Company purchated equipment on account on Septemiber 3.2022 , at an imvice price of 5196,000.00 September 4, 2022 , it paid 54,900 for detivery of the equipment, A one-yeac, 51,975 inturance policy on the equipment was purchised on Stetrember 6 . 2022 On September 20,2022. Pharoah paid \$3 100 for ibstallation and testing of the aquipment. The equipment was ready for use on October 1.2022. Pharoah estimates that the equipment is usefut life will be four vears, with i residual value of $14,000. it also kstimates that, in termes follows: (a) Detarmine ithe cost of the equipment. Cone or equiment is