6 Chrome File Edit View History Bookmarks Proles Tab Window Help SunOct17 7239PM JV 'll l. l. l. O r, Hinrlarpnl'al': - QuestionleFlN ChapterBH x hr .awlwal rm ma: , x Hmmawml H: ,7 , ' 1mm Do you want to install the updates now? 0' eztomheducationcom 4 .. FIN Chapter 8 Hw 0 Saved Help Save& Exit Submit w 1 Exercise 8-4A (Algo) Determining the cost of an asset LO 8-1 Southwest Milling Co. purchased a frontend loader to move stacks of lumber. The loader had a list price of $115,730. The seller agreed 2.22 to allow a 4.75 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Transportation cost points amounted to $2,480. Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $800. The loader operator is paid an annual salary of $44,110. The cost ofthe company's theft insurance policy increased by $2,350 per year as a result of acquiring the loader. The loader had a four-year useful life and an expected salvage value of $13,700. Required Determine the amount to be capitalized in an asset account for the purchase of the front-end loader. (Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign.) eEook Pnnt Costs that are to be capitalized: Total costs Brain 1 of 9 555 Next > anal-Hires weir Mia\" loo IMG_SOQThdc