Rains Company Purchased Equipment on January 1 at a List

question 292

Multiple Choice

Rains Company purchased equipment on January 1 at a list price of $75,000, with credit terms 2/10, n/30. Payment was made within the discount period. Rains paid $3,750 sales tax on the equipment, and paid installation charges of $1,320. Prior to installation, Rains paid $3,000 to pour a concrete slab on which to place the equipment. What is the total cost of the new equipment?

• A) $78,750.
• B) $81,570.
• C) $83,070.
• D) $75,750.

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