Directions:Determine the amount to be capitalized in the asset account for the purchase of the truck Background Information: Donald purchased a moving truck to move Micky to Alaska.The truck had a list price of $150,000.Donald was able to negotiate a 3.25% because he was able to pay cash for the purchase The truck needed shipped and the freight cost were $3,000.The specialist fee for the transaction was $1,800.Donald is paying someone $45,000 to load the truck and move Mickey.He also purchased a $10,000 insurance policy.The truck has an expected life of 6 years with a salvage value of $8,000