Anchor Company Purchased a Manufacturing Machine with a List Price

Multiple Choice

Anchor Company purchased a manufacturing machine with a list price of $160,000 and received a 2% cash discount on the purchase.The machine was delivered under terms FOB shipping point,and transportation costs amounted to $2,400.Anchor paid $3,000 to have the machine installed and tested.Insurance costs to protect the asset from fire and theft amounted to $3,600 for the first year of operations.What is the cost of the machine?

A) $156,800
B) $159,200
C) $165,800
D) $162,200