Oriole Corp. is planning to replace an old asset with new equipment that will operate more efficiently. The following amounts may ve relevant to this analysis.

$\backslash$table$[[$Cost of old asset,$$11,800,],[$Book value of old asset,$$2,200,],[$Selling price of old asset,$$2,200,],[$Purchase price of new replacement asset,$$19,400,],[$Estimated salvage value of new asset,$$2,200,],[$Estimated useful life of new asset,$5,$years$],[$Estimated annual net operating cash inflows,$$2,800,/$year for $5$ years$],[$Discount rate,$10\%,],[x$ rate,$0\%,]]$ PLEASE FIND THE NPV OF THE NEW ASSET