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	$7,000
Final sales value	0
Operating costs	68,000
New machine
Purchase cost	$72,000
Final sales value	2,500
Operating cost savings	22,000

Both machines will last for 4 more years.

Assuming a discount rate of 4%, what is the incremental net present value of replacing the current machine with the new machine?