Martin Tartans, Inc

Martin Tartans, Inc.is considering the purchase of a new argyle sock knitting machine to replace a less automated one.The new machine will cost $220,000 plus $30,000 for shipping and installation.The machine being replaced was purchased five years ago for $140,000 and depreciated as a 7-year MACRS property.It can be sold for $24,000.Boll Mills has a marginal tax rate of 35%.Compute the NINV for the project.Use the rounded MACRS schedule listed below:
(7-Year Depreciation Schedule: 14%, 25%, 18%, 12%, 9%, 9%, 9%, 4%)

A) $250,000
B) $226,000
C) $221,298
D) $223,620