A certain fluidized-bed combustion vessel has an investment cost of $100,000, a life of 10 years, and negligible resale value. Annual costs of materials, maintenance, and electric power for the vessel are expected to cost $10,000. A major refitting of the combustion vessel will occur during the fifth year at a cost of $30,000. If the interest rate is 15% per year, what is the lump sum equivalent cost of this project at the present time