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X Company incurs the following costs in purchasing equipment: invoice price, $40,100; shipping, $1,025; installation and testing, $1,700; one-year insurance policy, $2,650. What is the

X Company incurs the following costs in purchasing equipment: invoice price, $40,100; shipping, $1,025; installation and testing, $1,700; one-year insurance policy, $2,650.

What is the cost ot equipment?

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