PLEASE ANSWER QUESTION B ONLY, THANKS

Rehfuss Motors is considering replacing an existing piece of machinery with a more sophisticated machine. The old machine was purchased 3 years ago at a cost of $50,000 and this amount was being depreciated under MACRS using a 5-year cost recovery period. The old machine has a salvage value of $10,000 and can last 5 more years. The new machine that is being considered costs $76,000 and has an installation cost of $4,000. The firm is subject to a tax rate of 40%. The revenues and expenses (excluding depreciation and interest) associated with the new and old machine are given below. a. Calculated the initial investment associated with replacement of the old machine by the new machine. b. Determine the incremental operating cash inflows associated with the proposed replacement for years 1 and 5 only