$($Estimated time allowance: $9$ minutes$)$ This is a NPV break$-$even problem; however, the question asked is only about one part of the analysis. Do not solve the entire problem, only the part asked below.

The new equipment will be depreciated down to zero using straight$-$line depreciation over its $10-$year life. The project is a $10-$year project. The market value of the new equipment at the end of year $10$ is expected to be $0.$ The new equipment will replace an existing old equipment that has $10$ years left of depreciation at a $$9,000$ a year. The estimated before tax proceeds from selling this existing equipment is $$47,000$ today. The market value in $10$ years for this old equipment would be $0.$ The new equipment will generate annual cost savings of $$24,000$ before taxes. The tax rate is $20\%$ and the discounting rate is $9\%.$

What is the PV of the after tax EBIDTAs for the above replacement project?

For your answer, round to the nearest dollar $($do not enter decimals$),$ DO NOT USE commas, do not use the dollar $($$$)$ sign, and if the cash flow is negative enter the $(-)$ sign in front of the first digit. For example, if your answer is $$12,068\mathrm{.}89$ then enter $12069$ ; if your answer is $$4,000$ then enter $-4000$

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