Carbon Manufacturing Company made these expenditures related to PPE in 2019:

---Purchase of factory machine. List price was $110,000 and paid 95% of this.

---Sales taxes on factory machine. $2,500

---Shipping cost to get factory machine to factory. $3,000

---Installation and testing of factory machine. $9,000

---Insurance on the factory machine for the year after it was purchased. $2,000

---Minor repairs on the factory machine after 2 months. $2,500

What is the cost of the factory machine?

$113,500

$110,000

$123,500

$119,000