Early in $20\backslash$times $1,$ Nitro Demolition Ltd$.$ borrowed money to partially finance the acquisition of a bulldozer. The loan was a five$-$year, $$92,000$ loan, secured by a first charge on the bulldozer and the guarantee of the company president. The interest rate was $2\%,$ with interest paid annually at the end of each year. An upfront fee of $$16,165$ was charged on the loan.

The money was borrowed on $15$ January, and the bulldozer was ordered and paid for on this date. It was delivered on $30$ June $20$X$1.$ The invoice price of the equipment was $$182,000.$ It was then customized at a cost of $$16,000$ in July. Staff training and testing on the equipment was completed in August at a cost of $$11,000,$ and the machine was operational in early September $201.$

In addition to the loan for this equipment, the company had the following capital structure and borrowing costs for the year:

$\backslash$table$[[,$Average Balance,Borrowing Cost$],[$Operating line of credit,$$3,020,000,$$$180,000$