Metropolis Country Club purchased a new tractor to be used for golf course maintenance.
The machine cost $53,200. Metropolis borrowed the purchase price from its bank on a one-year, 10 percent note payable. Metropolis incurred the following costs:
Shipping costs ......... $300
Shipping insurance ....... 150
Calibration of cutting height .... 83
Required:
Compute the cost of the lawnmower.