Grab Manufacturing Co. purchased a ten-ton draw press at a cost of $178,000 with terms of 2/15, n/45. Payment was made within the discount period. Shipping costs were $4,000, which included $250 for insurance in transit. Installation costs totaled $11,800, which included $4,000 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the ten-ton draw press is