On January $1,$ Year $1,$ ABC Company purchased a piece of equipment with a list price of $$200,000.$ The seller agreed to allow a $5\%$ discount. Delivery terms were FOB shipping point and freight amounted to $$4,000.$ ABC had to hire a specialist for $$15,000$ to setup the equipment. The equipment operator was paid a salary of $$50,000$ in Year $1.$ ABC took out two insurance policies. The first cost $$2,000$ and covered the equipment during transport while the other cost $$12\mathrm{.}000$ and covered the equipment during use throughout Year $1.$ The equipment had a $5$ year useful life and an expected salvage value of $$3,000.$ All costs are paid in cash.

Determine the amount to be capitalized in an asset account for the purchase of the equipment.