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The Julienne Company imported a new machine at a peso equivalent of P330,000. The company...

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Accounting

The Julienne Company imported a new machine at a peso equivalent of P330,000. The company has to pay the additional costs of importing the asset such as P10,000 import duties and P15,000 a non-refundable purchase taxes. The cost of transporting the asset was P5,000 and cost of preparing the asset for its intended use include P5,000 installations. How much is the initial cost of the new machine?

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