There is only one question and it is for the replace now decision: What is the NPV of the cash flows for the replace now decision?

You are facing the decision of whether to replace an old machine at your factory. A new machine will cost $$48$ to purchase it now and maintenance expenses will be $$8$ a year. The new machine has a life of $5$ years at which time it is estimated it can be sold for $$10.$ The new machine will be depreciated down to zero over $5$ years using straight$-$line depreciation. If the new machine is purchased, the old machine can be sold today for $$38.$ However, if the old machine is not replaced today, it will continue to be depreciated down to zero using straight$-$line method over its remaining $4$ years. It is estimated that the old machine can be sold for $$5$ in one year $($at the end year $1).$ The maintenance cost per year for the old machine will be $$10.$ Assume that the discount rate is $12\%$ and the tax rate is $30\%.$

In answering the question, round to nearest dollar and do not use the dollar $($$$)$ sign; do not enter decimals. For example if your answer is $-$$$12\mathrm{.}534$ then enter $-13$; if answer is $$23\mathrm{.}7459$ then enter $24$; if the answer is $-$$$40$ then enter $-40$

The NPV $($at t$=0)$ for the replace now decision is $\_\_\_\_\_\_\_\_\_$