I received a visa on arrival a few weeks ago at VVI with a US passport and yes there was a $160 fee. Make sure bills are in very good shape and probably bring some extra. I’ve always heard that warning about some places but this was the only time I’ve really seen it enforced.really I had three or four $20 bills returned to me because they had tears of about 2mm.
You’ll also need a copy of your hotel reservation as well as flight leaving Bolivia. It’s a relatively straight forward process though and it is a 10 year multi entry visa.