Firm X is considering the replacement of an old machine with one that has a purchase price of $85,000. The current market value of the old machine is $20,000 but the book value is $34,000. The firm's tax rate for ordinary income is 38%. What is the net cash outflow for the new machine after considering the sale of the old machine?

$56,280

$65,550

$72,030

$59,680