Presto Company Purchased Equipment and These Costs Were Incurred Presto Will Record the Acquisition Cost of the Equipment as

Presto Company purchased equipment and these costs were incurred: $\begin{array}{lr}\text { Cash price } & \$ 65,000 \\\text { Sales taxes } & 3,600 \\\text { Insurance during transit } & 640 \\\text { Installation and testing } & 860\\\text { Total costs }&\$70,100\end{array}$ Presto will record the acquisition cost of the equipment as

A) $65,000.
B) $68,600.
C) $69,240.
D) $70,100.