Initial cash$$ flow:$$Basic calculation$$Cushing Corporation is considering the purchase of a new grading machine to replace the existing one. The existing machine was purchased $3$

years ago at an installed cost of $ $19$ comma $000$

$$;

it was being depreciated under MACRS using a$5-$year recovery period.$($See table

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for the applicable depreciation$$ percentages.$)$ The existing machine is expected to have a usable life of at least $5$ more years. The new machine costs $ $34$ comma $100$

and requires $ $4$ comma $700$

in installation$$ costs; it will be depreciated using a$5-$year recovery period under MACRS. The existing machine can currently be sold for $ $25$ comma $100$

without incurring any removal or cleanup costs. The firm is subject to a $21\%$

tax rate. Calculate the initial cash flow associated with the proposed purchase of a new grading machine.