On January 3, 2014, Garcia Co. purchased machinery. The machinery has an estimated useful life of eight years and an estimated residual value of $25,000. The amortization applicable to this machinery was $54,000 for 2015, computed by the straight-line method. Calculate what the acquisition cost of the machinery was.

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The Answer of On January 3, 2014, Garcia Co. purchased machinery. The machinery has an estimated useful life of eight years and an estimated residual value of $25,000. The amortization applicable to this machinery was $54,000 for 2015, computed by the straight-line method. Calculate what the acquisition cost of the machinery was.