Clark Company purchased a new machine on January $1,2024$ for $$525,000.$ On this date, the machine was estimated to have a life of $16$ years and a residual value of $$11,000.$ The company will depreciate the machine using the straight$-$line method.

On January $1,2030,$ Clark Company spent $$35,000$ to overhaul the machine. This capital expenditure caused Clark Company to change the life of the machine from $16$ to $21$ years with a residual value of $$8,000$ at the end of the $21$ years.

Calculate the book value of the machine at December $31,2033.$