Question: On August 1 , 2 0 2 2 , Happy Corporation purchased a new machine on a deferred payment basis. A down payment of $

On August 1,2022, Happy Corporation purchased a new machine on a

On August 1,2022, Happy Corporation purchased a new machine on a deferred payment basis. A down payment of $39,546 was made and 4 monthly installments of $32,955 each are to be made beginning on September 1,2022. The cash equivalent price of the machine was $158,184. Happy incurred and paid installation costs amounting to $6,591. The amount to be capitalized as the cost of the machine is
$171,366
$177,957
$164,775
$158,184
deferred payment basis. A down payment of $39,546 was made and 4

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