Replacement Analysis The Gilbert Instrument Corporation is considering replacing the wood steamer it currently uses to shape quitar sides. The steamer has 6 years of remaining life. If kept, the steamer will have depreciation expenses of $700 for 5 years and $230 for the sixth year. Its current book value is $3,830, and it can be sold on an internet auction site for $4,330 at this time. If the old steamer is not replaced, it can be sold for $800 at the end of its useful life. Gilbert is considering purchasing the Side Steamer 3000, a higher-end steamer, which costs $12,600, and has an estimated useful life of 6 years with an estimated salvage value of $1,500. This steamer falls into the MACRS 5-years cass, so the applicable depreciation rates are 20.00%, 32,00%, 10.20%, 11.52%, 11.52%, and 5,76%. The new steamer lu faster and allows for an output expansion, so sales would rise by $2,000 per year; the new machine's much greater efficiency would reduce operating expenses by $1,800 per year. To support the greater sales, the new machine would require that inventories Increase by $2,900, but accounts payable would simultaneously increase by $700. Gilbert's marginal federal-plus-state tax rate is 10%, and the project cost of capital is 14%. What is the NPV of the project? Do not round intermediate calculations. Round your answer to the nearest dollar. $ Should It replace the old steamer? The old steamer Select be replaced