X Company is unhappy with a machine that they bought just a year ago for $43,000. It is considering replacing it with a new machine that will save significant operating costs. Operating costs with the current machine are $66,000 per year; operating costs with the new machine are expected to be $44,000 per year. Both machines will last for 6 more years.The current machine can be sold immediately for $5,000 but will have no salvage value at the end of 6 years. The new machine will cost $68,000 and have a salvage value of $2,500 in 6 years. Assuming a discount rate of 4%, what is the net present value of replacing the current machine?