On July 1, 2020, Williamson Corp. replaced its steam boiler with a more efficient one. The following information was available on that date:

Purchase price of new boiler $130,000

Carrying amount of old boiler 5,000

Fair value of old boiler 3,000

Installation cost of new boiler 10,000

The old boiler was sold for $3,000. What amount should Williamson capitalize as the cost of the new boiler?

		$70,000.
		$135,000.
		$130,000.
		$140,000.
		$132,000.