Levi Motor Company owns a luxury automobile that it has used as a demonstrator for eight months. The auto has a list or sticker price of $ 85,000 and cost Levi $ 75,000. At the end of the fiscal year, the auto is on hand and has an expected selling price of $ 80,000. Costs expected to be incurred to sell the auto include tune-up and maintenance costs of $ 3,000, advertising of $ 1,000, and a commission of 5 per cent of the selling price to the employee selling the auto. Compute the amount at which the auto should be carried in inventory.