Sigma Gama is considering replacing the existing machine with a more efficient machine. The new machine costs $$114219$ and requires $$11861$ in installation costs. The old machine was purchased $2$ years ago for an installed cost of $$23876$ and can be sold for $$47652$ net of any removal costs today. Both machines are depreciated under the MACRS $5$year recovery schedule. The firm is in $40$ percent marginal tax rate. Calculate the initial investment required for the new machine.

Note: use one decimal place. Insert numbers only.