On August 1, 2022, Happy Corporation purchased a new machine on a deferred payment basis. A down payment of $30,420 was made and 4 monthly installments of $25,350 each are to be made beginning on September 1, 2022. The cash equivalent price of the machine was $121,680. Happy incurred and paid installation costs amounting to $5,070. The amount to be capitalized as the cost of the machine is $131,820$121,680$136,890$126,750