REPLACEMENT ANALYSIS St. Johns River Shipyards is considering the replacement of an 8-year-old riveting machine with a new one that will increase earnings before depreciation from $27,000 to $46,000 per year. The new machine will cost $87,500, and it will have an estimated life of 8 years and no salvage value. The new machine will be depreciated over its S-year M applicable corporate tax rate is 40%, and the firm's WACC is 14%. The old machine has been fully depreciated and has no salvage value. ACRS recovery period, so the applicable deprecation rates are 20%, 32%, 19%, 12% 11%, and 6%, The What is the NPV of the project? Round your answer to the nearest cent. Negative amount should be indicated by a minus sign $-3386.54 Should the old riveting machine be replaced by the new one? No