Xyz company is considering whether a project requiring purchasing of new equipment worth investing. the firm has spent $12,000 on consulting 2 months prior to the project as well as $7,000 in market study about a year ago. in order to start the new project, the firm has to replace the old machine which has a book value of $0 and will be scraped. the new machine will cost the firm $220,000. in order to make the machine working condition, xyz will spend $7,000 in installation and $3,000 in shipping. since it will produce more, $10,000 investment in net working capital is required. the project will increase annual revenues by $125,000 and will increase annual operating cost by $45,000. the company has a marginal tax rate of 34%. it has the cost of capital of 14% and the project will last 5 years. what is the initial outlay of this project? what is the initial outlay of this project? round to the nearest penny. do not include a dollar sign in your answer. type the absolute value of the answer. (i. e. if your answer is -$20,000 since it is cost to replace, type 2 as your answer.)