Determining cost of plant assets
New equipment was purchased by Hunter Corporation at a list price of $94,000,with credit terms of 2/10,n/30.Payment was made within the discount period and included $7,800 sales tax in addition to the net purchase price.The company also paid delivery charges of $940 and labor costs of $1,380 for installing the new equipment at the appropriate location.During installation,an inexperienced employee punctured several containers with a forklift,causing damage to the equipment.Cost to repair the damage was $1,960.What is the total cost of Hunter's equipment?

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New equipment was purchased by Hunter Corporation at a list price of $94,000,with credit terms of 2/10,n/30.Payment was made within the discount period and included $7,800 sales tax in addition to the net purchase price.The company also paid delivery charges of $940 and labor costs of $1,380 for installing the new equipment at the appropriate location.During installation,an inexperienced employee punctured several containers with a forklift,causing damage to the equipment.Cost to repair the damage was $1,960.What is the total cost of Hunter's equipment?

Determining Cost of Plant Assets