Sunland Company purchased equipment on account on September 3, 2022, at an invoice price of $198,000. On September 4, 2022, it paid $5,100 for delivery of the equipment. A one-year, $1,985 insurance policy on the equipment was purchased on September 6, 2022. On September 20, 2022, Sunland paid $2,900 for installation and testing of the equipment. The equipment was ready for use on October 1, 2022. Sunland estimates that the equipment's useful life will be four years, with a residual value of $15,000. It also estimates that, in terms of activity, the equipment's useful life will be 76,400 units. Sunland has a September 30 fiscal year end. Assume that actual usage is as follows: # of Units Year Ended September 30 15.580 2023 23,880 2024 20,180 2025 17.660 2026 (a) Determine the cost of the equipment. Cost of equipment $