JOOVI Inc. has recently purchased and installed a new machine for its manufacturing plant. The company incurred the following costs:
|
Purchase price |
$12,980 |
|
Freight and insurance |
$1,200 |
|
Installation |
$700 |
|
Testing |
$100 |
|
Maintenance staff training costs |
$500 |
The total cost of the machine to be shown on JOOVI’s balance sheet is closest to:
A. $14,180.
B. $14,980.
C. $15,480.