WPP 7 - Chapter 10 i 1 1 points eBook Print References Saved Beaverton Lumber purchased milling equipment for $42,000. In addition to the purchase price, Beaverton made the following expenditures: freight, $2,200; installation, $3,700; testing, $2,700; personal property tax on the equipment for the first year, $850. What is the initial cost of the equipment? Initial cost