Exercise 10-6 Ivanhoe Corporation acquired new equipment at a cost of $101,000 plus 9% provincial sales tax and 4% GST. (GST is a recoverable tax.) The company paid $1,870 to transport the equipment to its plant. The site where the equipment was to be placed was not yet ready and Ivanhoe Corporation spent another $560 for one months storage costs. When installed, $390 in labour and $220 of materials were used to adjust and calibrate the machine to the companys exact specifications. The units produced in the trial runs were subsequently sold to employees for $580. During the first two months of production, the equipment was used at only 29% of its capacity. Labour costs of $3,400 and material costs of $3,500 were incurred in this production, while the units sold generated $6,000 of sales. Ivanhoe paid an engineering consulting firm $11,100 for its services in recommending the specific equipment to purchase and for help during the calibration phase. Borrowing costs of $710 were incurred because of the one-month delay in installation. Determine the capitalized cost of the equipment. Capitalized cost of the equipment is?