Sigma Gama is considering replacing the existing machine with a more efficient machine. The new machine costs $$103676$ and requires $$10764$ in installation costs. The old machine was purchased $2$ years ago for an installed cost of $$34184$ and can be sold for $$59077$ net of any removal costs today. Both machines are depreciated under the MACRS $5$year recovery schedule. The firm is in $40$ percent marginal tax rate. Calculate the initial investment required for the new machine.

Note: use one decimal place. Insert numbers only. Refer to the MACRS table in the slides.