A new piece of equipment can be purchased for $316,000. It also has an ADR of eight years. Assume the old and new equipment would provide the following operating gains (or losses) over the next six years:

Year	New Equipment	Old Equipment
1...............	$80,500	$25,250
2...............	76,750	17,000
3...............	71,750	9,250
4...............	61,250	6,250
5...............	49,750	4,000
6...............	46,500	-6,750

The firm has a 25 percent tax rate and a 9 percent cost of capital.

What is the net cost of the new equipment? Round your solution to two decimal places.

What is the present value of incremental benefits? Round your solution to two decimal places.

What is the NPV of this replacement decision? Round your solution to two decimal places.