Slide 9-6 Determining Cost Example On May 4, Heat Co., an Ohio maker of stoves, buys a new machine from a Texas company The new machine has a price of $52, 000 Sales tax was computed at 8 Heat Co pays $500 shipping cost to get the machine to ohio, After the machine arrives set-up costs of $1, 300 are incurred, along with $4, 000 in testing costs Compute the cost of Heat Co's new machine Irwin/McGraw-Hill ?The McGraw-Hill Companies, Inc., 1999?The McGraw-Hill Companies, Inc., 1999 Slide 9-6 Irwin/McGraw-Hill Determining Cost Example On May 4, Heat Co., an Ohio maker of stoves, buys a new machine from a Texas company. The new machine has a price of $52,000. Sales tax was computed at 8%. Heat Co. pays $500 shipping cost to get the machine to Ohio. After the machine arrives, set-up costs of $1,300 are incurred, along with $4,000 in testing costs. Compute the cost of Heat Co.’s new machine