8.7) A material handling system was purchased 3 years ago for $127186. Two years ago it required substantial upgrading at a cost of $15524. It once again is requiring an upgrading cost of $24105. Alternately, a new system can be purchased today at a cost of $208506, with a salvage value of $18879. The existing machine could be sold today for $50418. In an economic replacement analysis, what first cost should be assigned to the existing system?