X Company is considering replacing one of its machines in order to save operating costs. Operating costs with the current machine are $62,000 per year; operating costs with the new machine are expected to be $43,000 per year. The new machine will cost $67,000 and will last for 6 years, at which time it can be sold for $1,000. The current machine will also last for 6 more years but will not be worth anything at that time. It's currently worth $5,000. Assuming a discount rate of 7%, what is the incremental net present value of replacing the current machine with the new machine?