Canvas Reproductions, Inc., has spent $4,500 dollars researching a new project. The project requires $20,000 worth of

Question:

Canvas Reproductions, Inc., has spent $4,500 dollars researching a new project. The project requires $20,000 worth of new machinery, which would cost $3,000 to install. The company would realize $4,500 in after-tax proceeds from the sale of old machinery. If Canvas’s working capital is unaffected by this project, what is the initial investment amount for this project?