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Calculate the initial investment required for capital budgeting purposes given the following information: Purchase and installation of new equipment $24,000 Sale price of replaced equipment

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Calculate the initial investment required for capital budgeting purposes given the following information: Purchase and installation of new equipment $24,000 Sale price of replaced equipment $8,000 Book value of replaced equipment $6,000 When the new equipment is installed, it will require $2,000 in working capital. Tax rate is 30%. $18,600 $18,000 $19,800 $20,000 $26,000

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