Abernathy Enterprises is considering replacing the existing press with a more efficient press. The new press costs $19,923 and requires $1,907 in installation costs. The old press was purchased 4 years ago for an installed cost of $36,768 and can be sold for $1,574net of any removal costs today. The New Press will increase revenue by $30000 and cut costs by $10000. Both presses are depreciated under the MACRS 5-YEAR recovery schedule. The firm is in 40% marginal rate. The depreciation rates for the assets under 5 year MACRS are as follows 20% for year 1, 32% for year2, 19% for year 3, 12% for year 4, 12 % for year 5 and 5% for year 6. Calculate the book value of the asset being replaced