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PROBLEM #3 EE Company used many kinds of machines in operations. The following information related to a machine that was acquired at the beginning of current year: Cash paid for machine, excluding VAT 806,400 VAT on machine purchased 90,000 Cost of transporting machine 27,000 Labor cost of installation by expert fitter 45,000 Labor cost of testing machine before it was put into regular operation 36,000 Insurance cost for the current year 13,500 Cost of training for personnel who will use the machine 22,500 Cost of safety rails and platform surrounding machine 54,000 Cost of water device to keep machine cool 72,000 Cost of adjustment to machine to make it operate more efficiently 67,500 Estimated dismantling cost to be incurred 58,500 Wages of the regular machinery operator incurred during the testing of machine 7,200 REQUIRED: Compute for the cost of the new machine