the XYZ Limited is planning to expand its business operations and has decided to purchase a machine on July $1,20$X$1,$ to enhance operational efficiency. The machine is expected to have a useful life of ten years. The invoice for machine indicates that it was purchased for $$667,667.$ Additionally, freight expenses of $$11,333$ and installation charges of $$15,333$ were incurred.

Required:

I. Calculate the total cost of the machine based on the purchase price, freight expenses, and installation charges