Cullumber company incurs these expenditures in purchasing a truck: cash price $22,970, accident insurance (during use) $1,640, sales taxes $1,720, motor vehicle license $340, and painting and lettering $2,620. what is the cost of the truck? the cost of the truck $enter a dollar amount

$27,310

Explanation:

The computation of the cost of the truck is shown below:

= Purchase value of the truck + sales taxes + painting and lettering costs

= $22,970 + $1,720 + $2,620

= $27,310

The accident insurance and the motor vehicle license are not included in the cost of the truck computation because these are the yearly costs that are not considered for the computation part. Hence, it would be ignored

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