Cost of a Fixed Asset Laurel Cleaners purchased an automatic dry cleaning machine for $135,000 from TGF Corporation on April 1. Laurel paid $35,000 in cash and signed a 5-year, 10% note for $100,000. Laurel will pay interest on the note each year on March 31. Transportation charges of $3,500 for the machine were paid by Laurel. Laurel also paid $2,520 for the living expenses of the TGF installation crew. Solvent, necessary to operate the machine, was acquired for