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problem: On August 1, 2007, Jarret Corporation purchased new equipment on a deferred payment basis. A down payment of $1,500 was made & 4 monthly installment of $2,000 each are to be made beginning on September 1, 2007. The cash equivalent rate of the equipment was $8,000. Jarret incurred and paid installation costs amounting to $250. The amount to be capitalized as the cost of the equipment is;

[A] $9,500

[B] $9,750

[C] $8,000

[D] $8,250

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