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Replacement analysisMississippi River Shipyards is considering the replacement of an8-year-old riveting machine with a new one that will increaseearnings before depreciation from $24,000 to $48,000 per year. Thenew machine will cost $82,500, and it will have an estimated lifeof 8 years and no salvage value. The new machine will bedepreciated over its 5-year MACRS recovery period; so theapplicable depreciation rates are 20%, 32%, 19%, 12%, 11%, and 6%.The applicable corporate tax rate is 40%, and the firm's WACC is18%. The old machine has been fully depreciated and has no salvagevalue.What is the NPV of the project? Round your answer to the nearestcent.$ Should the old riveting machine be replaced by the newone?-Select-YesNo