Casey Company bought a machine on January $1,$ Year $1.$ The machine cost $$144,000,$ the company also spent $$45,000$ and $$38,000$ for transportation and installation, respectively. The purchase was paid in cash. The accounting team expected salvage value of $$24,000.$ The life of the machine was estimated to be $5$ years.

Requirements:

Please calculate the cost of acquisition for Casey Company. Show your work.