Sandhill Company purchased equipment on account on September 3,2022, at an invoice price of $189,000.0n$eptember4,2022, it paid $4,600 for delivery of the equipment. A one-year, $1,940 insurance policy on the equipment was purchased on September 6 , 2022. On September 20,2022. Sandhill paid $3,400 for installation and testing of the equipment. The equipment was ready for use on October 1, 2022. Sandhill estimates that the equipment's useful life will be four years, with a residual value of $13,500. It also estimates that, in terms of activity, the equipment's useful life will be 91,750 units. Sandhill has a September 30 fiscal year end. Assume that actual usage is as follows: (a) Determine the cost of the equipment. Cost of equipment $