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Evaluate what is total value assigned to new piece

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Reference no: EM132654522

Problem 1: Somerset Company acquired a piece of equipment with a list price of $200,000 for $168,000. Freight to Somerset's location was $5,000. Installation and testing costs were $7,500. An old piece of equipment was scrapped as a result of this new purchase. The old piece of equipment had an undepreciated value (net book value) of $8,000. The new piece of equipment is expected to have a 10 year life and a salvage value of $15,000. What is the total value assigned to the new piece of equipment?

Reference no: EM132654522

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