Lakeside Incorporated is considering replacing old production equipment with state$-$of$-$the$-$art technology that will allow production cost savings of $$10,000$ per month. The new equipment will have a five$-$year life and cost $$390,000,$ with an estimated salvage value of $$40,000.$ Lakeside$$s cost of capital is $10\%.$ Table $6-4$ and Table $6-5.$

Required:

Calculate the net present value of the new production equipment.