(Answered) Smith corporation incurred the following expenditures which

Accounting

Smith Corporation incurred the following expenditures. Which of these purchases should be capitalized as a long-term asset? (Answer either "Yes" or "No" only;)

1.$8,000 to procure office supplies for the corporate headquarters.

2.$325 for maintenance to a company-owned vehicle.

3.$37,000 for the purchase of an additional company vehicle.

4.$1,800 to paint the offices within a company facility.

5.$75,000 for the use of a consultant.

6.$390,000 for the purchase of annual insurance coverage for the company's operations

7.$64,000 for the purchase of equipment to be used in the company's manufacturing facility.

8.$750,000 for the renovation and refurbishment of an existing company facility, thereby extending the life of the facility for an additional 8 years

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