Initial cash flow at various sale prices Edwards Manufacturing Company (EMC) is considering replacing one machine with another. The old machine was purchased 3 years ago for an installed cost of $10,000. The new machine costs $24,600 and requires $1,960 in installation costs. Both machines are depreciable using a MACRS five-year recovery period (See table for the applicable depreciation percentages.) The firm is subject to a 21% tax rate. In each of the following cases, calculate the initial cash flow for the replacement. a. EMC sells the old machine for $12,700. b. EMC sells the old machine for $6,910. c. EMC sells the old machine for $2,900. d. EMC sells the old machine for $1,530. Calculate the initial cash flow at various sale prices below. a. EMC sells the old machine for $12,700. (Round to the nearest dollar.) Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes - I nese percentages nave deen roundea to the nearest whole percent to smpiry caiculatons wnile retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year convention