FIN Chapter 8 HW Save A E Check my w 1 Exercise 8.4A (Algo) Determining the cost of an asset LO 8-1 222 points Southwest Milling Co, purchased a front-end loader to move stacks of lumber. The loader had a list price of $119,570. The seller agreed to allow a 475 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Transportation cost amounted to $2,160. Southwest Miling had to hire a specialist to calibrate the loader. The specialist's fee was $940. The loader operator is paid an annual salary of $19,320. The cost of the company's theft insurance policy increased by 52.460 per year as a result of acquiring the loader. The loader had a four year useful life and an expected salvage value of $8,700 Required Determine the amount to be capitalized in an asset account for the purchase of me front-end loader (Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign) ook Print Costs that are to be capitalund: List price Total costs $ 0