Production equipment is purchased at the cost of $87,500. In addition, the company paid $2,450 in shipping costs, $1,650 to install the equipment, and a $589.00 insurance cost due to the new equipment. What will be the cost of the equipment on the balance sheet? Select one: O a $80,610 Ob $91,600 OC. $82,770 d. $92,200 e. $89,739