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Determine the initial cost of the equipment

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Question - BE Company purchased a piece of equipment for $500,000 less 10% trade discount and a further 2% cash discount for prompt payment. Other expenses incurred included freight charges of $3,000, an installation cost of $1,800, the cost of training a machine operator $2,000 and insurance $500. Determine the initial cost of the equipment.

Reference no: EM133153366

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