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What is the machine acquisition cost

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Kipling Inc. purchased a machine on May 31 for $64000, paying cash. The company also paid $500 for freight, $800 for installation and testing, $700 for employee training, $300 for supplies to be used in production, and $1200 for a one-year insurance policy. The machine has a residual value of $6000 and a useful life of 5 years.

Problem 1: What is this machine's acquisition cost?

Reference no: EM132951787

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