Question - Upton Company purchased equipment on January 1 at a list price of $62,000, with credit terms 2/10, n/30. Payment was made within the discount period and Upton was given a $1,240 cash discount. Upton paid $2,800 sales tax on the equipment, and paid installation charges of $280. Prior to installation, Upton paid $2,500 to pour a concrete slab on which to place the equipment. What is the total cost of the new equipment?