Burnside medics a medical device manufacturer is considering replacing an existing piece of equipment with a robotic machine Existing machine: Cost: 350,000 Purchased 2 years ago Depreciation using maBurnside medics a medical device manufacturer is considering replacing an existing piece of equipment with a robotic machine Existing machine: Cost: 350,000 Purchased 2 years ago Depreciation using macrs over a 5 year recover schedule Current market value 360,000 5 year useable life remaining Proposed machine Cost 500,000 Install 50,000 Depreciation using macrs over 5 year recover schedule will be used Five year usable life Earnings before depreciation Existing machine ; Year 1500,000 Year 2 360,000 Year 3 300,000 Year 4 300,000 Year 5 300,000 Proposed machine: Year 1 400,000 Year 2 400,000 Year 3 400,000 Year 4 400,000 Year 5 400,000 The firm will pay 21% tax on ordinary income and capital gains GIVEN THE INFORMATION ABOVE COMPUTE INITIAL INVESTMENT. YOU MUST SHOW WORK AND DESCRIBE