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The following data relate to a firms purchase of a machine used in the manufacture of its product: Invoice price $24,000 Applicable sales tax 1,600

The following data relate to a firms purchase of a machine used in the manufacture of its product:

Invoice price $24,000
Applicable sales tax 1,600
Cash discount taken for prompt payment 800
Freight paid 660
Cost of insurance coverage on machine while in transit 525
Installation costs 1,400
Testing and adjusting costs 875
Repair of damages to machine caused by the firm's employees 950
Prepaid maintenance contract for first year of machine's use 700

Determine the acquisition cost of the machine. Acquisition Cost = $Answer

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