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stuck! help please! Southwest Milling Company purchased a front-end loader to move stacks of lumber. The loader had a list price of $121,700. The seller
stuck! help please! Southwest Milling Company purchased a front-end loader to move stacks of lumber. The loader had a list price of $121,700. The seller agreed to allow a 4.75 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $2,200. Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $770. The loader operator is paid an annual salary of $18,750. The cost of the company's theft insurance policy increased by $1,500 per year as a result of acquiring the loader. The loader had a four-year useful life and an expected salvage value of $6,900 Required Determine the amount to be capitalized in the asset account for the purchase of the front-end loader. Note: Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign
stuck! help please!
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