Wiley Company purchased new equipment for $60,000. Wiley paid cash for the equipment Other costs associated with the equipment were: transportation costs, $1,000; 5ales tax paid $3,000; installation costs of $2,500; and $240 for the first 12 months of insurance related to the equipment. For what amount will Wiley record as a debit to the Equipment account on the Balance Sheet? $60,000 $63,000 $66,740 $66,500 None of the answers are correct