On November 1st, rolfson company purchased a new machine for $150,000. The company paid $7,400 to have the machine delivered to its shop and $2,150 to install the machine in addition rolfson company paid $2,000 of interest to borrow money from the bank to purchase the machinery, and $5,000 to ensure the machine for the first year of use. Rolfson company also paid $8,500 for improvements to the machine that are expected to enhance its efficiency.

What total amount will the company capitalize on its balance sheet for this machine asset?