Saint John River Shipyard$$s welding machine is $15$ years old, is fully depreciated, and has no salvage value. However, even though it is old, it is still functional as originally designed and can be used for quite a while longer. A new welder will cost $$182,500$ and have an estimate life of $8$ years with no salvage value. The new welder will be much more efficient, however, and this enhanced efficiency will increase annual cash flows before taxes $($not including any CCA tax shield effects$)$ from $$27,000$ to $$74,000$ per year. The new welder falls into Class $43$ with a CCA rate of $30\%.$ The applicable corporate tax rate is $25\%,$ and the project cost of capital is $12\%.$ What is the NPV if the firm replaces the old welder with the new one?