Bunline is considering purchasing a new machine that would cost $60,000 and the machine would be depreciated (straight 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 $60,000 and it is being depreciated down to zero over its 5 year life. The current machine's salvage value now is $20,000. The new machine would increase EBDT by $42,000 annually. Builtrite's marginal tax rate is 34%. What is the Initial Investment associated with the purchase of this machine? \begin{tabular}{|l} $38,640 \\ $36,600 \\ \hline$34,560 \\ \hline$32,460 \end{tabular}