X Company is considering replacing one of its machines in order to save operating costs. The following information is available: Current machine Current sales value $5,000 Final sales value 0 Operating costs 65,000 New machine Purchase cost $69,000 Final sales value 2,000 Operating costs 47,000 Both machines will last for 5 more years. Assuming a discount rate of 7%, what is the incremental net present value of replacing the current machine with the new machine?