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St. Johns River Shipyards is considering the replacement of an 8-year-old riveting machine with a new one that will increase earnings before depreciation from $27,000

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St. Johns River Shipyards is considering the replacement of an 8-year-old riveting machine with a new one that will increase earnings before depreciation from $27,000 to $54,000 per year. The new machine will cost $85,000, and it will have an estimated life of 8 vears and no salvage value, The new riveting machine eligible for 100% bonus depreciation at the time of purchase. The applicable corporate tax rate is 25%, and the firm's wACC is 12%. The old machine has been fully depreciated and has no salvage value. What is the NPV of the project? Negative value, if any, should be indicated by a minus sign. Round your answer to the nearest cent. \$) Should the old riveting machine be replaced by the new one

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