Sheridan Company purchased equipment on account on September $3,2022,$ at an invoice price of $$186,000.$ On September $4,2022,$ it paid $$4,300$ for delivery of the equipment. A one$-$year, $$1,925$ insurance policy on the equipment was purchased on September $6,2022.$ On September $20,2022,$ Sheridan paid $$3,700$ for installation and testing of the equipment. The equipment was ready for use on October $1,2022.$

Sheridan estimates that the equipment's useful life will be four years, with a residual value of $$15,000.$ It also estimates that, in terms of activity, the equipment's useful life will be $71,600$ units. Sheridan has a September $30$ fiscal year end. Assume that actual usage is as follows:

$\backslash$table$[[$# of Units,Year Ended September $30],[15,460,2023],[23,760,2024],[20,060,2025],[13,220,2026]]$

$($a$)$

Determine the cost of the equipment.

Cost of equipment $