Your corporation is considering investing in a new product line. The annual revenues (sales) for the new product line are expected to be $259,150.00 with variable costs equal to 50% of these sales. In addition annual fixed costs associated with this new product line are expected to be $48,684.00 . The old equipment currently has no market value. The new equipment cost $52,336.00 . The new equipment will be depreciated to zero using straight-line depreciation for the three-year life of the project. At the end of the project the equipment is expected to have a salvage value of $20,002.00 . An increase in net working capital of $64,803.00 is also required for the life of the project. The corporation has a beta of 1.115 , a tax rate of 38.53% , and a target capital structure consisting of 30.06% equity and 69.94% debt. Treasury securities have a yield of 3.91% and the expected return on the market is 8.76% . In addition, the company currently has outstanding bonds that have a yield to maturity of 6.65%.

a) What is the total initial cash outflow? (show as negative number )