Anchor Company purchased a manufacturing machine with a list price of $100,000 and received a 2% cash discount on the purchase. The machine was delivered under terms FOB shipping point, and freight costs amounted to $5,200. Anchor paid $7,500 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $9,800 for the first year of operations. Based on this information, the amount of cost recorded in the asset account would be: Multiple Choice O $110.700. O $103.200 $120,500 $110,700 $103,200 O $120,500 $120,500 $98,000