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Find what cost should the equipment be recorded

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Problem 1: Equipment was purchased for a total cost of 10,000 including sales tax. In addition, freight charges were 500 and cost of installation 2,000. The insurance cost while in transit was 800. Once the equipment was operating, the yearly insurance expense was 1,200 and the repairs 400. At what cost should the Equipment be recorded in the Accounting Books and subject to depreciation?

Option 1: 13,300
Option 2: 14,900
Option 3: 14,500
Option 4: 10,000

Reference no: EM132808375

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