Andy Company purchased a manufacturing machine with a list price of $160,000 and received a...
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Andy Company purchased a manufacturing machine with a list price of $160,000 and received a 2% cash discount on the purchase. The machine was delivered under terms FOB shipping point, and transportation costs amounted to $2,400. Andy paid $3,000 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $3,600 for the first year of operations. What is the cost of the machine?
A. $156,800.
B. $159,200.
C. $165,800.
D. $162,200.
Andy Company purchased a manufacturing machine with a list price of $160,000 and received a 2% cash discount on the purchase. The machine was delivered under terms FOB shipping point, and transportation costs amounted to $2,400. Andy paid $3,000 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $3,600 for the first year of operations. What is the cost of the machine?
| A. | $156,800. | |
| B. | $159,200. | |
| C. | $165,800. | |
| D. | $162,200. |
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