On August 1, 2014, Hayes Corporation Purchased a New Machine

On August 1, 2014, Hayes Corporation purchased a new machine on a deferred payment basis. A down payment of $12,000 was made and 4 monthly installments of $10,000 each are to be made beginning on September 1, 2014. The cash equivalent price of the machine was $48,000. Hayes incurred and paid installation costs amounting to $2,000. The amount to be capitalized as the cost of the machine is

A) $48,000.
B) $50,000.
C) $52,000.
D) $54,000.