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Denver CoAcquired a Large Rotary Forge to Be Used in Its

Question 45

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Denver Co.acquired a large rotary forge to be used in its manufacturing process from a competitor that was going out of business.The following costs were incurred by Denver in connection with the acquisition:
 List price $375,000 Finder’s fee 1,500 Transportation to Denver’s plant 13,000 Cleaning and repainting the forge 1,800 Installation costs 21,000 Costs to repair a control panel damaged during installation 900\begin{array}{lr}\text { List price } & \$ 375,000 \\\text { Finder's fee } & 1,500 \\\text { Transportation to Denver's plant } & 13,000 \\\text { Cleaning and repainting the forge } & 1,800 \\\text { Installation costs } & 21,000 \\\text { Costs to repair a control panel damaged during installation } & 900\end{array}
Required:
How much should Denver Co.capitalize to the machinery account?

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