The Gilbert Instrument Corporation is considering replacing the wood steamer it currently uses to shape guitar sides. The steamer has 6 years of remaining life If kept, the steamer will have depreciation expenses of $700 for 5 years and $350 for the sixth year. Its current book value is $3,850, and it can be sold on an Intemet auction site for $4,350 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 $11,200 and has an estimated useful life of 6 years with an estimated salvage value of $1,500. This steamer fals inte the MACRS 5 -years class, sp the applicable depreclation rates are 20.00%,32.00%,19.20%, 11.52%,11.52%, and 5.76%. The new sheamer is faster and allows for an output expansion, so sales would rise by $2,000 per year; the new machine's much greater efficiency would reduce operating expenses by $1,800 per year, To support the greater sales, the new machine would require that inventories increase by 52,900 , but accounts payable would simultaneously increase by $700. Gilbert's marginal federal-plus-state tax rate is 25%, and the project cost of copitar is 15% What is the NPV of the project? Do not round intermediate calculations. Round your answer to the nearest dollar: 4 Should is repiace the old steamer? The old steamer be repiaced