A company can purchase a machine for 34,000 or hire the same machine for 9,000 per annum for the next six years, the assumed working life of the machine, at the end of which it will have no value. The hire charge will be paid at the end of each year from year one to year six. If the machine is hired the company will be responsible for its maintenance and any other costs stemming from its use. Given an interest rate of 10% should the company buy or hire the machine?