Question: Blackjack Inc. wants to replace a 9-year-old machine with a new machine that is more efficient. The old machine cost $70,000 when new and has

Blackjack Inc. wants to replace a 9-year-old machine with a new machine that is more efficient. The old machine cost $70,000 when new and has a current book value of $15,000. Blackjack can sell the machine to a foreign buyer for $14,000. Blackjack's tax rate is 35%. The effect of the sale of the old machine on the initial outlay for the new machine is

		($14,350).
		($9,100).
		($13,650).
		$1,000.

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