X Company must decide whether to continue using its current equipment or replace it with new, more efficient equipment. The following information is available for the current and new equipment: Current equipment Current sales value Final sales value Operating costs $5,000 7,000 60,000 New equipment Purchase cost Final sales value Operating cost savings $51,000 7,000 9,500 Maintenance work will be necessary on the new equipment in Year 3, costing $2,000. The current equipment will last for five more years; the life of the new equipment is also five years. Assuming a discount rate of 8%, what is the net present value of replacing the current equipment