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

$82,700

$80,700

$70,700

$70,800

- 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%