Metropolis Country Club purchased a new tractor to be used for golf course maintenance. The tractor cost

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Metropolis Country Club purchased a new tractor to be used for golf course maintenance. The tractor cost $64,200. Metropolis borrowed the purchase price from its bank on a 1-year, 7% note payable. Metropolis incurred the following costs:
Shipping costs .............................................. $925
Shipping insurance ......................................... 180
Calibration of cutting height ............................... 75
Required:
1. Compute the cost of the tractor.
2. Explain why any costs were excluded from the cost of the tractor?
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