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On January 1, Tracey Company purchased equipment with an invoice cost of $237,600. The...

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Accounting

On January 1, Tracey Company purchased equipment with an invoice cost of $237,600. The company paid 8% sales taxes on the invoice cost and an additional $1,000 to ship the equipment to the companys facilities. On January 15, the company hired an outside company to train its employees on the new equipment at a cost of $2,400.
How much is the capitalized cost of the equipment?
Select one:
a. $216,000
b. $260,008
c. $236,680
d. None of the above

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