Please i need solution to this question for an exam

Central Laundry and Cleaners 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 recovery period. The machine has 5 years of usable life remaining. The new machine that is being considered costs $76,000 and requires $4,000 in installation costs. The new machine would be depreciated under MACRS using a 5-year recovery period. The firm can currently sell the old machine for $55,000 without incurring any removal or cleanup costs. The firm pays a tax rate of 40% on both ordinary income and capital gains. The revenues and expenses (excluding depreciation) associated with the new and the old machine for the next 5 years is given in the table below. RECOVERY YEAR 1 2 3 4 5 6 7 8 9 10 11 TOTALS YEAR 1 2 3 4 5 Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes PERCENTAGE BY RECOVERY YEAR 3 YEARS 5 YEARS 7 YEARS 33% 20% 14% 45 32 25 15 19 18 7 12 12 12 9 5 9 9 4 100% 100% NEW MACHINE REVEBNUE EXP. (EXCL DEP) 750,000.00 720,000.00 750,000.00 720,000.00 750,000.00 720,000.00 750,000.00 720,000.00 750,000.00 720,000.00 100% 10 YEARS 10% 18 14 12 9 8 7 6 6 6 4 100% OLD MACHINE REVEBNUE EXP. (EXCL DEP) 674,000.00 660,000.00 676,000.00 660,000.00 680,000.00 660,000.00 678,000.00 660,000.00 674,000.00 660,000.00 a. Calculate the initial investment associated with replacement of the old machine by the new one. b. Determine the incremental operating cash inflows associated with the proposed replacement. (Note: Be sure to consider the depreciation in year 6.) c. Depict on a time line the relevant cash flows found in parts a and b associated with the proposed replacement decision