Ballyhigh Company purchased equipment for $20,000. Sales tax on the purchase was $1,500. Other costs incurred were freight charges of $300, repairs of $350 for damage during installation, and installation costs of $450. What is the capitalized cost of the equipment?
A) $21,500
B) $21,850
C) $22,250
D) $22,600
Correct Answer:
Verified
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