Given the following information, what is the required cash outflow associated with the acquisition of a new production system? - Purchase price of new machine $18,000 - Installation Charge $2,000 - Shipment charge $2,000 - Market value of old machine $2,000 - Book Value of old machine $1,000 - Inventory increase if new machine is installed $500 - Expected Accounts Payable increase $100 - Feasibility study costs paid last year. $500 - Land purchased for this project last year $50,000 - Current Market Price of the land $60,000 - Tax rate 30% - Cost of capital 10% $70,700 $70,800 $80,700 $82,700