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2: Parker Chemicals purchased a metal stamping machine 10 years ago for $120,000. It is fully depreciated and can be sold today for $20,000. Parker

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2: Parker Chemicals purchased a metal stamping machine 10 years ago for $120,000. It is fully depreciated and can be sold today for $20,000. Parker is now considering the purchase of a new more efficient stamping machine that would cost $260,000. Transportation and installation expenses related to the machine would cost an additional $14,000. The new machine would be depreciated as a 10-year MACRS asset. The new machine would require a wider variety of disposable stamping guides than the old machine and would thus increase inventory at the beginning of the project by $6,000. Over the 10-year life of the project, positive after-tax net cash flaws of $65,000 per year are forecasted. The company's marginal tax rate is 20%. Determine the initial investment if the old machine is sold and the new one is purchased. (Your answer should be only the initial investment). [Enter your answer rounded to the nearest whole dollar -- no decimal places needed.] Your

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