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the XYZ Limited is planning to expand its business operations and has decided to purchase...

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Accounting

the XYZ Limited is planning to expand its business operations and has decided to purchase a machine on July 1,20X1, to enhance operational efficiency. The machine is expected to have a useful life of ten years. The invoice for machine indicates that it was purchased for $667,667. Additionally, freight expenses of $11,333 and installation charges of $15,333 were incurred.
Required:
I. Calculate the total cost of the machine based on the purchase price, freight expenses, and installation charges

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