Sunshine Transport (Pty) Ltd imported a bus from their supplier in South Africa. The invoice price of the bus amounted to R1,550,000 on the date when ownership transferred on 2 March 2019. The company incurred N$38,775 import duties and delivery fees of N$11,225. Costs of testing this new bus amounted to N$25,000. After relevant inspections, the bus was ready for use on 1 April 2019. However, due to busroute conflicts, the bus was only put into use on 1 May 2019. The total useful life was estimated at 10 years whereafter it could be sold for N$125,000 Calculate the cost of the bus on initial recognition. Select one: O A. N$1,586,225 O B. N$1,625,000 O C. N$1,600,000