On March 1, Bunker Hill Company Purchased a New Stamping

Multiple Choice

On March 1, Bunker Hill Company purchased a new stamping machine with a list price of $68,000. The company paid cash for the machine; therefore, it was allowed a 5% discount. Other costs associated with the machine were: transportation costs, $1,100; sales tax paid, $2,720; installation costs, $900; routine maintenance during the first month of operation, $1,000. The cost recorded for the machine was:

A) $68,420.
B) $64,600.
C) $69,320.
D) $70,320.