brite company purchased a machine that had an invoice price of usd 400 000 excluding 624490

Brite Company purchased a machine that had an invoice price of USD 400,000 excluding sales tax. Terms were net 30. A 4 percent sales tax was levied on the sale. The company incurred and paid freight costs of USD 10,000. Special electrical connections were run to the machine at a cost of USD 14,000 and a special reinforced base for the machine was built at a cost of USD 18,000. The machine was dropped and damaged while being mounted on this base. Repairs cost USD 4,000. Raw materials with a cost of USD 1,000 were consumed in testing the machine. Safety guards were installed on the machine at a cost of USD 1,400, and the machine was placed in operation. In addition, USD 500 of costs were incurred in removing an old machine. Prepare a schedule showing the amount at which the machine should be recorded in Brite Company”s account.