Initial investment-Basic calculation Cushing Corporation is considering the purchase of a new grading machine to replace the existing one. The existing machine was purchased 4 years ago at an instalied cost of $19,100, it was being deprecialed under MACRS using a 5 year recovery period. (See table for the applicable deprectation percentages.) The existing machine is expected to have a usable life of at least 5 more year. The new machine costs $35,700 and requires $4,500 in installation costs, it wil be deprociated using a 5 -year recovery period under MACRS. The existing machine can currently be sold for 525.400 without incirring any removal or cleanup costs. The firm is subject to a 40% tax rale. Calculate the initial investment associated with the proposed purchase of a flew grading machine. Tho inilial investinent will be: (Round to the nearest dolitr.) (Click on the icon located on the top-right comer of the data table below in order to copy its contents into a spreadsheet.) Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes moo percunlages nave veen rounded to the nearest whole percent to simplify calculations whily retaining realism. To calculate the actual depreciation for tax purposes, bo sure to apply the actual