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On March 1, Zane Company purchased a new stamping machine with a list price of...

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Accounting

On March 1, Zane Company purchased a new stamping machine with a list price of $24,000. The company paid cash for the machine; therefore, it was allowed a 3% discount. Other costs associated with the machine were: transportation costs, $1,270; sales tax paid, $1,680; installation costs, $450; routine maintenance during the first month of operation, $500. The cost recorded for the machine was:

A. $23,730

B. $24,000

C. $25,960

D. $26,680

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