A material handling system was purchased 3 years ago for $123,443. Two years ago it required substantial upgrading at a cost of $16,250. It once again is requiring an upgrading cost of $26,145. Alternately, a new system can be purchased today at a cost of $204,926, with a salvage value of $20,170. The existing machine could be sold today for $50,818. In an economic replacement analysis, what first cost should be assigned to the existing system? Enter your answer as follow: 123456.78