Student Name: Student I Intermediate Accounting II Chapter 10-Practice 1 Assets Acquisition and Disposition 1- Grab Manufacturing Co. purchased a ten-ton draw press at a cost of $180,000 with terms of s/15, n/4s. Payment was made within the discount period. Shipping costs were $4,600, which included $200 for insurance in transit Installation costs totaled $12,000, which included $4,000 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the ten-ton draw press is: A $171,000 B. $183,600 C $187,600 D. $185,760 Total cost of equipment Shipping costs totaled $15,000. Foundation work to house the centrifuge cost $8,000. An additional water line had to be run to the equipment at a 2- Holid y Laboratories purchased a high speed industrial centrifuge at a cost of $420,000. run to the equipment at a cost of $3,000 Labor and $3,000. The capitalized cost is costs totaled $6,000. Materials used up in testing cost Total cost of equopment