A $84,000 machine with a 7-year class life was purchased 4 years ago. The machine will now be sold for \$26, and replaced with a new machine costing $53,000, with a 5-year class life. The new machine will not increase sales, but will decrease operating costs by $16,000 per year. Simplified straight line depreciation is employed for both machines and the marginal corporate tax rate is 34 percent. What is the initial outlay for the project? NOTE -- ALTHOUGH THE INITIAL OUTLAY IS NEGATIVE, PLEASE ENTER YOUR ANSWER AS A POSITIVE SIGN. IN OTHER WORDS, IF YOUR ANSWER IS - 10,000 , ENTER IT AS 10, 000 . DO NOT ENTER THE DOLLAR SIGN

A $84,000 machine with a 7-year class life was purchased 4 years ago. The machine will now be sold for $26,000 and replaced with a new machine costing $53,000, with a 5-year class life. The new machine will not increase sales, but will decrease operating costs by $16,000 per year. Simplified straight line depreciation is employed for both machines, and the marginal corporate tax rate is 34 percent. What is the initial outlay for the project? NOTE -- ALTHOUGH THE INITIAL OUTLAY IS NEGATIVE, PLEASE ENTER YOUR ANSWER AS A POSITIVE SIGN. IN OTHER WORDS, IF YOUR ANSWER IS -10,000, ENTER IT AS 10,000. DO NOT ENTER THE DOLLAR SIGN