Garrett Corporation began operations in 2021. To maintain its accounting records, Garrett entered into a two-year agreement with Accurite Company. The agreement specifies that Garrett will pay $60,000 to Accurite immediately, and in return, Accurite will make its accounting software accessible via the Internet to Garrett and maintain all infrastructure necessary to run the software and store records. At any time, Garrett Corporation can freely remove its records and run the software on its own hardware or that of another accounting services company. In addition to the cost of the agreement, Garrett incurred $10,000 early in the year devising a plan for its accounting software needs, $20,000 for customizing its own computers for integration with Accurites software, and $15,000 after the software was implemented to train its employees. Determine the initial amount that Garrett should capitalize related to the software development costs.