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

Southwest Milling Company purchased a front$-$end loader to move stacks of lumber. The loader had a list price of $\backslash (\backslash$$ $119,700\backslash ).$ The seller agreed to allow a $5\mathrm{.}00$ percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Transportation cost amounted to $\backslash (\backslash$$ $2,390\backslash ).$ Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $\backslash (\backslash$$ $800\backslash ).$ The loader operator is paid an annual salary of $\backslash (\backslash$$ $32,180\backslash ).$ The cost of the company's theft insurance policy increased by $\backslash (\backslash$$ $1,840\backslash )$ per year as a result of acquiring the loader. The loader had a four$-$year useful life and an expected salvage value of $\backslash (\backslash$$ $10,500\backslash ).$

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.