Question 90 J Ltd. purchased machinery from K Ltd. on 30.09.2013. The price was 370.44 lakhs after charging 8% Sales-tax and giving a trade discount of 2% on the quoted price. Transport charges were 0.25% on the quoted price and installation charges come to 1% on the quoted price. A loan of 300 lakhs was taken from the bank on which interest at 15% per annum was to be paid. Expenditure incurred on the trial run was Materials 35,000, Wages 25,000 and Overheads * 15,000. Machinery was ready for use on 1.12.2013. However, it was actually put to use only on 1.5.2014. Find out the cost of the machine The entire loan amount remained unpaid on 1.5.2014.