Southwest Milling Company purchased a front-end loader to move stacks of lumber. The loader had a list price of $120,980. The seller agreed to allow a 6.00 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Transportation cost amounted to $2,470. Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $1,040. The loader operator is paid an annual salary of $23,40 he cost of the company's 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 $9,700. Required: Determine the amount to be capitalized in an asset account for the purchase of