The following data relate to a firms purchase of a machine used in the manufacture of its product: Invoice price $26,000 Applicable sales tax 1,800 Cash discount taken for prompt payment 1,000 Freight paid 860 Cost of insurance coverage on machine while in transit 725 Installation costs 1,600 Testing and adjusting costs 1,075 Repair of damages to machine caused by the firm's employees 1,150 Prepaid maintenance contract for first year of machine's use 900 Determine the acquisition cost of the machine. Acquisition Cost =

Acquisition Cost of Long-Lived Asset The following data relate to a firm's purchase of a machine used in the manufacture of its product: Determine the acquisition cost of the machine