X Company bought a machine for $41,000. Management is disappointed that 2021 operating costs with the machine were $32,000. Since they are expecting future operating costs to continue to be $32,000 a year, they are considering replacing the machine with a new one. Although the new machine will cost $45,000, operating costs with the new machine will only be $25,000 each year. Both machines will last for 4 more years. The current machine can be sold immediately for $10,000 but will have no salvage value at the end of 4 years. The new machine will have a salvage value of $4,500 at the end of 4 years. Assuming a discount rate of 8%, what is the net present value of replacing the current machine with the new one?