Company ABC is thinking about a project to expand their business. In order to start the project, ABC has to invest $200,000 in new equipment and $50,000 in working capital. ABC has to spend $15,000 for installation and $5,000 for shipping of the equipment. A few months ago, ABC spent $7,000 in consulting. The marginal tax rate of company ABC is 34%. What is the initial outlay of this project? Round to the nearest penny.