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Calculate the cost recorded for the machine

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Question - On March 1, Bartholomew Company purchased a new stamping machine with a list price of $72,000. The company paid cash for the machine; therefore, it was allowed a 5% discount. Other costs associated with the machine were: transportation costs, $1,500; sales tax paid, $3,520; installation costs, $1,100; routine maintenance during the first month of operation, $1,400. The cost recorded for the machine was:

$68,400.

$73,420.

$75,920.

$74,520.

Reference no: EM131976526

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