How to Solve:

The Target Copy Company is contemplating the replacement of its old printing machine with a new model costing $ 39,000. The old machine, which originally cost $ 31,000, has 3 years of expected life remaining and a current book value of $ 12 ,000 versus a current market value of $ 11,000. Target's corporate tax rate is 32 percent. If Target sells the old machine at market value, what is the initial after-tax outlay for the new printing machine? Since this is a cash outlay, be sure to use the - sign when writing your answer. Show your answer to the nearest $.01 Do not use the $ symbol in your