Scott Corp is considering a proposal to replace an old machine with a new machine costing $55,000. The new machine's estimated before-tax cash savings in operating expenses is $15,000 per year for 5 years; however, the new machine's depreciation expense is expected to be $4,000 more per year than the old machine's depreciation. The company can sell the old machine for $9,000, which will result in a before-tax loss on disposal of $5,000. The company's tax rate s 40%, and its minimum return on investment for this transaction is 6%. What is the NPV of replacing the old machine with the new machine?