A company is looking to invest in new machinery.The cost of the machinery, including shipping and installation costs, is $34.75 million.The company has a buyer for the old machinery who is willing to pay $3.2 million.Currently the book value of the old machinery is $4.8 million.The company will also invest $2.9 million in additional inventory to sustain the higher levels of efficiency that come with the new machinery.If the company's marginal tax rate is 39%, what is the initial outlay?