A company purchased new equipment for $54,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $2,700; sales tax paid $3,400; and installation cost, $3,000. The cost recorded for the equipment was:

Beachballs, inc., expects abnormally high earnings for the next three years due to the forecast of unusually hot summers. after the 3-year period, their growth will level off to its normal rate of 6%. dividends and earnings are expected to grow at 20% for years 1 and 2 and 15% in year 3. the last dividend paid was $1.00. if an investor requires a 10% return on beachballs, the price she is willing to pay for the stock is closest to: