An entity incurs the following costs in connection with the purchase of a trademark:

Purchase price of the trademark$80,000Nonrefundable value added tax paid on the purchase of the trademark4,000Training sales department staff on the use of the trademark2,000Research expenditures incurred prior to the purchase of the trademark15,000Legal fees to register the trademark8,000Salaries of personnel who negotiated the purchase of the trademark during the period of negotiation10,000Assuming that the trademark meets the criteria for recognition as an intangible asset, at what amount should the trademark be initially measured?

$84,000

$92,000

$104,000

$119,000