Exclusive Golfing Supplies $($EGS$),$ an outdoor golfing equipment producer that specializes in personalized, precision golf clubs, engaged in a laboratory analysis to test the newest metallic compounds on the market. In Stage I, the project$-$identification stage, EGS learned of a new compound that is expected to increase the precision and improve the quality of golf clubs. In Stage II$,$ the information$-$gathering stage, the cost of new machinery and training is computed to produce materials associated with the new technology. The results of the analysis revealed $$580,000$ the cost of new machinery and $$16,000$ total training gear to run the new machines. The managerial accountant reported that the cash flow from the disposal of the current equipment is $$42,000.$

Required: Compute the net initial investment of the new machine.

Group of answer choices

$$560,000$

$$554,000$

$$610,00$

$$570,000$

$$590,000$