Southwest Milling Co$.$ purchased a front$-$end loader to move stacks of lumber. The loader had a list price of $$140,000.$ The seller

agreed to allow a $4$ percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost

amounted to $$1,200.$ Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $$1,800.$ The loader

operator is paid an annual salary of $$60,000.$ The cost of the company's theft insurance policy increased by $$800$ per year as a result

of acquiring the loader. The loader had a four$-$year useful life and an expected salvage value of $$6,000.$

Required

Determine the amount to be capitalized in the asset account for the purchase of the front$-$end loader. $($Amounts to be deducted

should be indicated with minus sign.$)$