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 depreclation expenses of $550 for 5 years and $310 for the sixth year. Its current book value is $3,060, and it can be sold an an internet auction site for $3,710 at this time. If the old steamer is not replaced, it can be sold for $800 at the end of its useful lefe. Gilbert is considering purchasing the Side Steamer 3000 , a higher-end steamer, which costs $11,500, and has an estimated useful life of 6 years with an estimated salvage value of $1,600. This steamer falls into the MACR5 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 an output expansion, so sales would rise by $2,000 per year; the new machine's much greater efficiency would reduce operating expenses by $1,900 per year, To support the greater sales, the new machine would require that inventories increase by $2,900, but accounts payable would simultaneously increase by $700. Gilbert's marginal federal-plus-state tax rate is 40%, and the project cost of capital is 14%. What is the NPV of the project? Do not round intermediate calculations, Round your answer to the nearest dollar, Should it replace the old steamer? The old steamerbe replaced