Exercise 6-4A (Algo) Determining the cost of an asset LO 61 Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list price of $115,120. The seller agreed to allow a 5.75 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $2,130. Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $970. The loader operator is paid an annual salary of $7,590. The cost of the company's theft insurance policy increased by $2,450 per year as a result of acquiring the Ioader. The loader had a four-year useful life and an expected salvage value of $10,300. Required Determine the amount to be capitalized in the asset account for the purchase of the front-end loader. (Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign.)