(c) Sonali Enterprise is considering the purchase of a new equipment to replace the current equipment with an acquisition price of Tk. 3, 50,000. It will incur Tk. 50, 000 in installation and Tk. 25,000 in market research process. It will be depreciated under straight-line basis using a seven-year recovery period. The old equipment was purchased for an installed cost of Tk. 2, 75, 000 six years ago having an original expected useful life of 10 years. The old equipment can be sold today for Tk. 55,000. As a result of the proposed replacement the firm's investment in net working capital is expected to increase by Tk. 20,000. The company enjoys an 8 % Investment Tax Credit (ITC). The firm pays taxes at a rate of 30% on ordinary income and 25% capital gains. Find out the initial investment (CFO) associated with the proposed equipment replacement. ACCU