On March 1, Chapine Company purchased a new stamping machine for $5,000. Chapine paid cash for the machine. Other costs associated with the machine were: transportation costs, $300; sales tax paid $200; and installation cost, $100. The cost recorded for the machine was
a. $5,200.
b. $5,600.
c. $5,500.
d. $5,000.
e. None of the above is correct.