A material handling system was purchased 3 years ago for $112,258. Two years ago it required substantial upgrading at a cost of $13,654. It once again is requiring an upgrading cost of $24,415. Alternately, a new system can be purchased today at a cost of $200,319, with a salvage value of $22,371. The existing machine could be sold today for $50,720. In an economic replacement analysis, what first cost should be assigned to the existing system