Use the following information to answer the given question, \(\begin{array}{c|c} & N\\ \hline \text{Purchase price of equipment} & 60,000\\ \text{Freight an...

To calculate the total acquisition cost of the equipment, we need to add the purchase price of the equipment, the freight and installation cost, and any other costs incurred to make the equipment ready for use. In this case, the total acquisition cost would be: Total acquisition cost = Purchase price + Freight and installation cost = 60,000 + 10,000 = N70,000 The annual maintenance cost and the estimated useful life of the equipment are not relevant to the calculation of the total acquisition cost. The estimated scrap value is also not relevant to the calculation of the total acquisition cost, as it is a future estimate of the value of the equipment at the end of its useful life. Therefore, the correct answer is N70,000.