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Exercise $8-4$A $($Algo$)$ Determining the cost of an asset LO $8-1$

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Southwest Milling Company purchased a front$-$end loader to move stacks of lumber. The loader had a list price of $$116,640.$ The seller agreed to allow a $6\mathrm{.}25$ percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Transportation

eBook cost amounted to $$2,880.$ Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $$780.$ The loader

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Steve $8$ Ent

Hint operator is paid an annual salary of $$7,000.$ The cost of the company's theft insurance policy increased by $$1,910$ per year as a result of acquiring the loader. The loader had a four$-$year useful life and an expected salvage value of $$14,700.$

Required

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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.

$\backslash$table$[[$List price,$],[$Less: Discount,$],[$Freight cost$,],[$Specialist fee,$],[,],[,],[$Total costs,$ $0]]$