Initial investment - Basic calculation Cushing Corporation is considering the purchase of a new grading machine to replace the existing one. The existing machin was purchased 4 years ago at an installed cost of $20,000; it was being deprecialed under MACRS using a 5 -year recowery period, (See table for the applicablo depreciation percentages.) The existing machine is expected to have a usable life of at least 5 more years. The new machine costs $35,600 and requires $4,900 in installation costs; it will be depreciated using a 5-year recovery period under MACRS. The existing machine can currently 5e sold for $25,300 without incurring any removal or cleanup costs. The firm is subject to a 40% tax rate. Calculate the initial investment associated with the proposed purchase of a new grading machine. The initial imvestrvent will be s (Round to the nearest dollar.) Data table