Question: Brief Exercise 7 - 2 ( A l g o ) Determine cost o f equipment ( L O 7 - 1 ) Whole Grain

Brief Exercise 7-2(Algo) Determine cost of equipment (LO7-1)
Whole Grain Bakery purchases an industrial bread machine for $20,000.In addition to the purchase price, the company makes the following expenditures: freight, $1,000; installation, $2,000; testing, $500; and property tax on the machine for the first year, $400.
What is the initial cost of the bread machine?

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