X Company is thinking about expanding the production of Product A and eliminating Product B. Expanding sales of A should result in additional firm profits of $11,000 per year for the next 7 years, but will require the purchase of some additional equipment, costing $18,000. This equipment should be worth $3,400 at the end of 7 years.

By eliminating Product B, the firm will lose the product's $7,000 annual contribution margin but will save $14,000 of annual fixed costs.

Assuming a discount rate of 4%, what is the net present value of expanding the production of Product A and eliminating Product B?