A company is deciding whether to lease or buy new equipment that can be purchased for $30,000. If purchased, the equipment will need to be services at the end of each year. Consider the following information:

-PVCCATS = $9000

-PV of lease payments tax shield = $39000

-PV of salvage value = $3000

-PV of lease payments before-tax = $18000

-PV of annual service costs after-tax = $5000

Based on the information, what is the present value of buying? (Do not round intermediate calculations)