(Answered) Problem - miscellaneous costs associated with the purchase

Accounting

Problem - Miscellaneous costs associated with the purchase of new equipment include:

Insurance costs before the equipment is ready for use $3,000

Maintenance costs before the equipment is ready for use 500

Insurance costs after the equipment is placed into service 1,800

Cost of trial run 900

Training costs for employees to learn how to use equipment 300

What is the amount assigned to the new equipment?

A. $6,500

B. $4,200

C. $4,400

D. $4,700

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