Exercise 8-4A (Algo) Determining the cost of an asset LO 8-1 Southwest Miling Company purchased a front-end loader to move stacks of lumber. The loader had a list price of $116,540. The seller agreed to allow a 5.75 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Transportation cost amounted to $2,910. Southwest Miling had to hire a specialist to calibrate the loader. The specialist's fee was $980. The loader operator is paid an annual salary of $23,960. The cost of the company's theft insurance policy increased by $2,330 per year as a result of acquiring the loader. The loader had a four-year useful life and an expected saivage value of $5,900. Required: Determine the amount to be capitalized in an asset account for the purchase of the front-end loader Note: Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign