The Gibert Instrument Corporation is considering replacing the wood steamer it currently uses to shape guitar sides. The steamer has 6 vears of reinaining life. If kept, the steamer will have depreciation expenses of $600 for 5 years and $300 for the sixth year. Its current book value is $3,300, and it can be sold on an Intemet auction site for $3,900 at this time. If the old steamer is not replaced, it can be sold for $800 at the end of its useful life. Gilbert is considering purchasing the Side Steamer 3000 , a higher -end steamer, which costs $12,500 and has an estimated useful life of 6 years with an estimated salvage value of $1,200. This steamer falls into the MACRS 5 -years class, so the applicable depreciation rates are 20.00%, 32.00%,19.20%, 11.52%,11.52%, and 5.76%, The new steamer is faster and allows for on output expansion, so sales would rise by $2,000 per year; the new machine's much greater efficiency would reduce operating expenses by $1,500 per year. To suppost the greater sales, the new machine would require that inventones increase by $2,900, but accounts payable would simultaneously increase by $700. Gulbert's marginal federal plus-stote tax rate is 25%, and the project cost of capital is 12%. What is the NPV of the project? Do not round intermediate calculations. Pound your answer to the nearest dollar. Should it replace the old stearner? The old stearner be replaced