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FIN 310 Fundamentals of Finance Fall 2022 11/22/223:35 PM (3) Homework: Ch 11 Question 5, P11-12 (similar to) HW Score: 42.72%,3.85 of 9 points Points: 0 of 1 (3) Question list K Initlal investment-Basic calculation Cushing Corporation is considering the purchase of a new grading machine to replace the existing one. The existing machine was purchased 2 years ago at an installed cost of S19,700; it was being depreclated under MACRS using a 5-year recovery period. (See table for the applicable depreclation percentages.) The existing machine is expected to have a usable life of at least 5 more years. The new machine costs $35,300 and requires $5,100 in installation costs; it will be depreciated using a 5 -year recovery period under MACRS. The existing machine can currenty be sold for $24,700 without incurring any removal or cleanup costs. The firm is subject to a 40% tax rate. Calculate the initial investment associated with the proposed Question 1 purchase of a new grading machine. Data table (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Rounded Depreciation Percentages by Recovery Year Using MACRS for Question 4 The inilial invesiment will be $ (Round to the nearest dollar.) First Four Property Classes Question 5 Question 6 Question 7 Question 8 "These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or direclly apply double-declining balance (200 % ) depreciation using the half-year convention