62. The Finney Company is reviewing the possibility of remodeling one of its showrooms and buying some new equipment to improve sales operations. The remodeling would cost $240,000 now and the useful life of the project is 12 years. Additional working capital needed immediately for this project would be $60,000; the working capital would be released for use elsewhere at the end of the 12-year period. The equipment and other materials used in the project would have a salvage value of $40,000 in 12 years. Finney's discount rate is 11%. (gnore income taxes.) The immediate cash outflow required for this project would be: (Round discount factors) to 3 decimal places and final answer to the nearest dollar amount.) O (30o,ooo) O (28o,ooo) O $(240,000)