ABC Inc. recently purchased an equipment. The price negotiated with the seller was $20,000. Aqua also paid sales tax of $2,000 on the purchase, maintenance contracts of $2,200 to cover ordinary repairs for the first year of operation, and shipping and preparation costs of $500. At what amount should the equipment be recorded on the balance sheet prior to recording depreciation expense? O 26,800 O 22,500 0 24,700 O 22,000