Windsor inc wants to replace its current equipment with new high-tech equipment. The existing equipment was purchased 5 years ago at a cost of 5127,000 . At that time, the equipment had an expected life of 10 years, with no expected salvage value. The equipment is beingdepreciated on a straight-line basis. Currently, the market value of the old equipment is $43,300. The new oquipment can be bought for $176,980, including installation. Over its 10 -year life, it will reduce operating expenses from $191.700 to $146.500 for the first six years, and from $206.300 to $192,500 for the last four years. Net working capital requirements Will also increase by $20.000 at the time of replacement. It is estimated that the compary can self the new equipment for $24,600 at the end of its life. Since the new equipment's cash flows are relatively certain, the project's cost of capital is set at 9%, compared with 15% for an average-risk project. The firm's maximum acceptable payback period is 5 years. Click here to view the tactor table. (a) Calculate the initial investment amount. Calculate the initial irvestment amount. Indtial impestrment Calculate the project's cash payback period. (Round answer to 2 decimel ploces, e. . 15.25.)