Bolt Company purchased a machine for use in its operations that had an invoice price of \(\$ 80,000\) excluding sales tax. A \(4 \%\) sales tax was levied on the sale. Terms were net 30 . The company estimated the total cost of hauling the machine from the dealer's warehouse to the company's plant at \(\$ 5,600\), which did not include a fine of \(\$ 1,600\) for failure to secure the necessary permits to use city streets in transporting the machine. In delivering the machine to its plant, a Bolt employee damaged the truck used; repairs cost \(\$ 3,600\). The machine was also slightly damaged with repair costs amounting to \(\$ 1,600\).

Bolt incurred installation costs of \(\$ 32,000\) that included the \(\$ 4,000\) cost of shoring up the floor under the machine. Testing costs amounted to \(\$ 2,400\). Safety guards were installed on the machine at a cost of \(\$ 640\), and the machine was placed in operation.

Required Prepare a schedule showing the amount at which the machine should be recorded in Bolt's accounts.