Question: ABC Inc. installed new lab equipment. The electrical work required to prepare for the installation was $15,000. The invoice price of the equipment was $150,000.

ABC Inc. installed new lab equipment. The electrical work required to

ABC Inc. installed new lab equipment. The electrical work required to prepare for the installation was $15,000. The invoice price of the equipment was $150,000. Additional costs were $2,000 for delivery and 518,700 sales tax (58 200 of the sales tax was non-refundable and the balance refundable). During the installation, a component of the equipment was damaged because it was carelessly left on the floor. The cost of repairing the component was $7.500. What is the cost of the equipment? Cost of equipment

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