Grab Manufacturing Co. purchased a 10-ton draw press at a cost of $172,000 with terms...
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Grab Manufacturing Co. purchased a 10-ton draw press at a cost of $172,000 with terms of 5/15, n/45. Payment was made within the discount period. Shipping costs were $4,600, which included $240 for insurance in transit. Installation costs totaled $12,600, which included $5,000 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the 10-ton draw press is:
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