Ivanhoe Company purchased equipment on January 1 at a list price of $110000, with credit...
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Ivanhoe Company purchased equipment on January 1 at a list price of $110000, with credit terms 3/10, n/30. Payment was made within the discount period. Ivanhoe paid $5250 sales tax on the equipment, and paid installation charges of $1500. Prior to installation, Ivanhoe paid $3500 to pour a concrete slab on which to place the equipment. What is the total cost of the new equipment?
$116950.
$116750.
$111750.
$115250.
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