Problem 11-10 Replacement Analysis St. Johns River Shipyards welding machine is 15 years old, fully depreciated, and has no salvage value. However, even though it is old, it is still functional as originally designed and can be used for quite a while longer. The new welder will cost $83,500 and have an estimated life of 8 years with no salvage value. The new welder will be much more efficient, however, and this enhanced efficiency will increase earnings before depreciation rom $29,000 to $58,000 per year. The new machine will be depreciate over ts 5-year M CRS recovery peno so the applicable depreciation rates are 0 % 320 % 19.20%, 11.52%, 11.52%, and 5.76%. The applicable corporate tax rate is 40%, and the project cost of capital is 14%. Should the old welder be replaced by the new one? Old welder ectbe replaced What is the NPV of the project? Do not round intermediate calculations. Round your answer to the nearest cent. Problem 11-10 Replacement Analysis St. Johns River Shipyards welding machine is 15 years old, fully depreciated, and has no salvage value. However, even though it is old, it is still functional as originally designed and can be used for quite a while longer. The new welder will cost $83,500 and have an estimated life of 8 years with no salvage value. The new welder will be much more efficient, however, and this enhanced efficiency will increase earnings before depreciation rom $29,000 to $58,000 per year. The new machine will be depreciate over ts 5-year M CRS recovery peno so the applicable depreciation rates are 0 % 320 % 19.20%, 11.52%, 11.52%, and 5.76%. The applicable corporate tax rate is 40%, and the project cost of capital is 14%. Should the old welder be replaced by the new one? Old welder ectbe replaced What is the NPV of the project? Do not round intermediate calculations. Round your answer to the nearest cent