Your firm is considering replacing one of its old machines with a new machine. The new machine will have a cost of $1,015,000. The old machine could be sold today for $306,000. The old machine was purchased 2 years ago for $595,000. The new machine has an expected salvage value of $430,000. The old machine has an expected salvage value of $145,000. The project will last 4 years. The CCA rate is 27.00%. The tax rate is 24.50% and the required rate of return is 9.40%. What is the present value of the incremental salvage value