March 31, 2021 Lynbrook Inc. purchased a new machine for one of its stores. The machine's estimated

useful life at the time of the purchase was 20 years, and its residual value was $5,000.

Cost to repair machine damaged during installation

Required:

purchase price of the machine $155,000

freight costs 4,000

installation of machine 10,000

sales taxes 3,000

cost to repair machine damaged during installation 4,000

Compute the total cost that will be recorded in Lynbrooks Machine account.