Ivanhoe Company purchased equipment on January 1 at a list price of $110000, with credit terms 3/10, n/30. Payment was made within the discount period. Ivanhoe paid $5250 sales tax on the equipment, and paid installation charges of $1500. Prior to installation, Ivanhoe paid $3500 to pour a concrete slab on which to place the equipment. What is the total cost of the new equipment?

$116950.

$116750.

$111750.

$115250.