A machine that lasts four years has the following net cash outflows: $12,500 to purchase the machine and $7,500 for the annual year-end operating cost.At the end of fours years, the machine is sold for $3,200; thus, the cash flow at year 4, C₄, is only $4,300.The cost of capital is 8 percent.What is the PV of the costs of operating a series of such machines in perpetuity?