S Libby Company purchased equipment by paying $6,400 cash on the purchase date and agreed to pay $6,400 every six months during the next four years. The first payment is due six months after the purchase date. Libby's incremental borrowing rate is 6%. The equipment reported on the balance sheet as of the purchase date is closest to: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice O $57,600 0 $51,326. O $51,200 0 $44,926