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An old machine originally costs $372,000 and was being depreciated straight line over an 8-year...

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Finance

An old machine originally costs $372,000 and was being depreciated straight line over an 8-year life. The old machine is now 6 years old and can be sold for $84,000.

The old machine is being replaced with a new machine that will cost $700,000.

If the firm's tax rate is 34%, calculate the initial outlay on the new machine

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