Peony City contracts with Big City Software to use a securities trading

software. Which of the following is not included in the capitalization of

the asset at the beginning of the subscription period?

Costs Peony city incurred for city employees to participate in community

college courses to understand how to use the software

Present value of the sum of scheduled payments

Payments made to Big City Software as deposits during the contracting period

to secure the right to use of the technology

Installation costs of hardware required to use the software