Question 21 (of 23) 21. Mad Hatter Enterprises purchased new equipment for $364,000, terms f.o.b. shipping point. Other costs connected with the purchase were as follows: State sales tax Freight costs Insurance while in transit Insurance after equipment placed in service Installation costs Insurance for the first year of operations Testing 29,100 5,500 790 1,190 1,950 2,350 690 Required: Determine the capitalized cost of the equipment esc FI F2 F3