You have been working with a manufacturing consultant to upgrade your production facility. Costs include $700,000 in equipment, a $15,000 investment in net working capital at the time of installation, and $5,000 in delivery and installation costs. The consultant has billed the firm for $10,500 for his work on the project. If the project is undertaken, an employee training program costing $8,000 would be required. The old machinery has no book value but can be sold for $80,000. Your firm's corporate tax rate is 21%. What is the initial outlay associated with the project? $631,200 O $664,800 $648,000 $738,500 $728,000