New equipment was purchased by Tignor Corporation at a list price of $98,000, wi

Question

New equipment was purchased by Tignor Corporation at a list price of $98,000, with credit terms of 2/10, n/30. Payment was made within the discount period and included $7,840 sales tax, in addition to the net purchase price. The company also paid delivery charges of $990 and labor costs of $1,500 for installing the new equipment at the appropriate location. During installation, an inexperienced employee punctured several containers with a forklift, causing damage to the equipment. Cost to repair the damage was $2,460. What is the total cost of Tignor's equipment?

Explanation / Answer

$106,370

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