One year ago, your company purchased a machine used in manufacturing for $120, 000. You have learned that a new machine is available that offers many advantages; you can purchase it for $160, 000 today. It will be depreciated on a straight-line basis over ten years, after which it has no salvage value. You expect that the new machine will contribute EBITDA (earnings before interest, taxes, depreciation, and amortization) of $60, 000 per year for the next ten years. The current machine is expected to produce EBITDA of $21,000 per year. The current machine is being depreciated on a straight-line basis over a useful life of 11 years, after which it will have no salvage value, so depreciation expense for the current machine is $ 10,909 per year. The current machine can be sold today for a market value of $50, 000. Your company's tax rate is 42%, and the opportunity cost of capital for this type of equipment is 12%. Is it profitable to replace the year-old machine? The NPV of the replacement is. (Round to the nearest dollar.) Should your company replace its year-old machine? (Select the best choice below.) Yes, there is a profit from replacing the machine. No, there is a loss from replacing the machine