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 soth year, fts current book value is $3,850, and it can be sold on an Internet auction site for $4,430 at this time. Tf the old steamer is noc replaced, it can be sold for $800 at the tend of its useful M e. Gibert is considering purchaung the side 5teamer 3000 , a highen-end steamer, which costs $12,300 and has an estimated useful ife of 6 years with an estimated salvage value of $1,400. This steamer falls into the MACRS 5 -years class, so the applicabie depreciation rates are 20.00%, 32.00\%, 19,20%. 11,529,11.52%, and 5.76%. The new steamer is faster and allows for an output expansion, so saies would rise by $2,000 per year, the new machine's much grester efficiency would reduce operating expenses by $1,400 per vear. 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 25%, 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 steamer be replaced