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Southwest Milling Company purchased a front-end loader to move stacks of lumber. The loader had...

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Accounting

Southwest Milling Company purchased a front-end loader to move stacks of lumber. The loader had a list price of $119,400. The seller
agreed to allow a 6.00 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost
amounted to $2,140. Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $990. The loader
operator is paid an annual salary of $23,840. The cost of the company's theft insurance policy increased by $1,840 per year as a result
of acquiring the loader. The loader had a four-year useful life and an expected salvage value of $5,200.
Required
Determine the amount to be capitalized in the asset account for the purchase of the front-end loader.
Note: Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign.
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