Southwest Milling Company purchased a front$-$end loader to move stacks of lumber. The loader had a list price of $$118,710.$ The seller agreed to allow a $5\mathrm{.}50$ percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $$2,890.$ Southwest Milling had to hire a specialist to calibrate the loader. The specialists fee was $$840.$ The loader operator is paid an annual salary of $$44,470.$ The cost of the companys theft insurance policy increased by $$1,800$ per year as a result of acquiring the loader. The loader had a four$-$year useful life and an expected salvage value of $$9,100.$RequiredDetermine the amount to be capitalized in the asset account for the purchase of the front$-$end loader.