Builtrite is considering purchasing a new machine that would cost $60,000 and the machine would be depreciated (streight line) down to $0 over its five-year life. At the end of five years, it is believed that the machine could be sold for $15,000. The current machine being used was purchased 2 years ago at a cost of $40,000 and it is being depreciated down to zero over its 5 year life, The current machine's salvage value now is $18,000. Also, a higher level of inventory would ha needed in the amount of $4000for the new machine. The new machine would increase EBDT by $48,000 annually. Buitrite's marginal tax rate is 34%

What is the Initial Investment associnted with the purchase of this machine?