On January 2, 2012, York Corp. replaced its boiler with a more efficient one. The following information was available on that date:
Purchase price of new boiler $170,000
Carrying amount of old boiler 10,000
Fair value of old boiler 4,000
Installation cost of new boiler 20,000
The old boiler was sold for $4,000. What amount should York capitalize as the cost of the new boiler?