Swifty Company purchased Machine #$201$ on May $1,2025.$ The following information relating to Machine #$201$ was gathered at the end of May.

Price

$$90,100$

Credit terms

$2/10,$ n$/30$

Freight$-$in

$$848$

Preparation and installation costs

$$4,028$

Labor costs during regular production operations

$$11,130$

It is expected that the machine could be used for $10$ years, after which the salvage value would be zero. Swifty intends to use the machine for only $8$ years, however, after which it expects to be able to sell it for $$1,590.$ The invoice for Machine #$201$ was paid May $5,2025.$ Swifty uses the calendar year as the basis for the preparation of financial statements.

$($a$)$