L purchased 10,000 units of a mutual fund in the current year for $120,000. He received a T3 from the fund showing the following distributions for the current year which were reinvested in the fund:

• Actual amount of eligible dividends: $6,000
• Taxable amount of eligible dividends: $8,280
• Capital gains: $4,000
• Other investment income: $2,000

What is the adjusted cost base of L's investment in the mutual fund at the end of the current year?