05 PM Mon Jun 6 education.wiley.com Assignment Chaprer Lang Live Assignment #8 Chapter 9 on Long Lived Assets Question 16 of 16 View Policies -13 1 Current Attempt in Progress Cullumber Enterprises purchased equipment on March 15.2021 for $8030 The company ad the following amounts: $540 for freight charges $212 for insurance while the equipment was transit: $1,749 for a one-year insurance policy: $1.970 to train employees to the new vi and $2.978 for testing and installation. The company began to use the oppment on Apri Cullumber has estimated the equipment will have a 10-year ushlife with coresid expects to consume the equipment's future economic benefits evenly over the useful The company has a December 31 year end. (a) Calculate the cost of the equipment Cost of the equipment $ eTextbook and Media Save for Later Attempts Ofused b The parts of this question must be completed in orde The put beat what you (b) (b) Cullumber Enterprises purchased equipment on March 15, 2021, for $78,030. The company also paid the following amounts: $540 for freight charges; $212 for insurance while the equipment was in transit: $1,749 for a one-year insurance policy: $1,970 to train employees to use the new equipment; and $2,978 for testing and installation. The company began to use the equipment on April 1. Cullumber has estimated the equipment will have a 10-year useful life with no residual value. It expects to consume the equipment's future economic benefits evenly over the useful life. The company has a December 31 year end. (a) Calculate the cost of the equipment. Cost of the equipment $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit