The cost of the machine was $63,000, of which $20,000 was given as a down payment. The

remainder was borrowed at 12% annual interest. Additional costs included $2,500 for shipping,

$4,000 for installation, $3,000 for testing, and $1,290 of interest on the borrowed funds. How much

should be reported for this acquisition in the machine account on Lambert Company's statement of

financial position as of November 30