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One year ago, your company purchased a machine used in manufacturing for $ 1 1 5 comma 0 0 0 . You have learned that

One year ago, your company purchased a machine used in manufacturing for $115 comma 000. You have learned that a new machine is available that offers many advantages; you can purchase it for $150 comma 000 today. It will be depreciated on a straight-line basis over 10years, 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 comma 000 per year for the next 10 years. The current machine is expected to produce EBITDA of $20 comma 000 per year. The current machine is being depreciated on a straight-line basis over a useful life of 11years, after which it will have no salvage value, so depreciation expense for the current machine is $10 comma 454.55 per year. All other expenses of the two machines are identical. The market value today of the current machine is $50 comma 000. Your company's tax rate is 45%, and the opportunity cost of capital for this type of equipment is 14%. Is it profitable to replace the year-old machine?
The NPV of the replacement is $ ______.

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