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Morton Company, a large, diversified manufacturer of electronics components, is trying to determine the initial investment required to replace an old machine with a new, more sophisticated model. The machine's purchase price is $380,000 and an additional $20,000 will be needed to install it. It will be depreciated under the straight-line method 5-year recovery period. The old machine was purchased 3 years ago at a cost of $240,000 and was also depreciated under the straight-line method. Morton has found a buyer willing to pay $280,000 for the present machine. Morton expects that a $35,000 increase in current assets and an $18,000 increase in current liabilities will be required to support the new machine. Morton is in the 40% tax bracket for both ordinary income and capital gains.
Problem 1: Calculate the following:
a. NINVb. Depreciation
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