John Davis & Company purchased a new piece of equipment for their factory. The machine costs $125,000. They needed to build a platform on the factory floor to properly place the equipment ($15,000). Minor repairs and adjustments to the equipment, which happened while getting the equipment installed, cost $800. The cost to insure the equipment is $5,100 per year, though the first four months were while the equipment was being prepared for use. Costs incurred to test the new machine for proper operation are $500. After the machine was put into use, minor repairs of $200 were required. Required: What is the total cost of the asset to get it ready for use in the company? Show all calculations