Question: Brief Exercise 1 0 - 1 ( Algo ) Acquisition cost; equipment [ LO 1 0 - 1 ] Beaverton Lumber purchased milling equipment for

Brief Exercise 10-1(Algo) Acquisition cost; equipment [LO10-1]
Beaverton Lumber purchased milling equipment for $41,000. In addition to the purchase price, Beaverton made the following expenditures: freight, $2,100; installation, $3,600; testing, $2,600; personal property tax on the equipment for the first year, $800.
What is the initial cost of the equipment?

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