You must evaluate the purchase of a proposed spectrometer for your company that will save the company $80,000 per year in before-tax labor costs. The base price is $185,000 but it would cost another $40,000 to make required modifications. Also, $26,000 would need to be spent to add additional net working capital. The equipment would be depreciated using MACRS over a three-year life. The 3-year MACRS rates are 33%,45%,15%, and 7%, respectively. In three years, it will be sold for an estimated $75,000. The firm's marginal tax rate is 24% and its WACC is 8%. What is the initial outlay for the spectrometer? $185,000 (B) $211,000 $225,000 (D) $251,000 (E) $286,000