Sunland Company purchased factory equipment with an invoice price of $80,100. Other costs incurred were freight costs, $

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Sunland Company Purchased Factory Equipment With An Invoice Price Of 80 100 Other Costs Incurred Were Freight Costs 1 (61.71 KiB) Viewed 58 times

Sunland Company purchased factory equipment with an invoice price of $80,100. Other costs incurred were freight costs, $1,080; installation wiring and foundation, $2,290; material and labor costs in testing equipment, $840; oil lubricants and supplies to be used with equipment, $980; fire insurance policy covering equipment, $1,970. The equipment is estimated to have a $8,000 salvage value at the end of its 10-year useful service life. Compute the acquisition cost of the equipment. Acquisition cost of the equipment $ (Round answer to 1 decimal place, eg. 15.5%) If the straight-line method of depreciation was used, the annual rate applied to the depreciable cost would be %.