Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $440,000. Shipping costs totaled $30,000. Foundation work to house the centrifuge cost $8,600. An additional water line had to be run to the equipment at a cost of $3,000. Labor and testing costs totaled $5,300. Materials used up in testing cost $2,600. The capitalized cost is:
$489,900.
$470,000.
$481,600.
$489,500.