A company decides to invest in replacing an old machine. The company buys a new machine for $110,000. It sells the old machine for $15,000. The old machine had a book value of $22,000 at the time it was sold. The company's tax rate is 35%. What is the net cost of the investment in the new machine (to be used in capital budgeting analysis)? $110,000.00 $95,000.00 $15,000.00 $92,550.00