Ivanhoe Enterprises purchased equipment on March $15,2027,$ for $$79,000.$ The company also paid the following amounts: $$600$ for freight charges, $$100$ for insurance while the equipment was in transit, $$1,900$ for a one$-$year insurance policy, $$2,000$ to train employees on how to use the new equipment, and $$2,700$ for equipment testing and installation. The company began to use the equipment on April $1.$ Ivanhoe has estimated the equipment will have a $10-$year useful life with no salvage value. It expects to consume the equipment's economic benefits evenly over its useful life. The company has a December $31$ year$-$end.

$($a$)$

Calculate the cost of the equipment.

Cost of the equipment $

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