Brigham Ltd is considering purchasing a machine to replace an old one. The price of the new machine is

R$90000.$ The cost to transport the machine to the factory is R$11000,$ and the installation cost is R$9000.$

The purchase of the new machine will result in an increase in net working capital of R$25000.$ The old

machine was purchased $3$ years ago at a cost of R$50000.$ The old equipment is depreciated on a straight

line basis over a period of $5$ years. In addition, the old machine required an increase in net working capital

of R$12000.$ Suppose the old machine is sold after $3$ years for R$35000,$ and the removal cost of the

old machine is R$5000.$ Assume that the tax rate is $30\%.$

Required:

Calculate the initial investment for the replacement project.