A unversity student painter is considering the purchase of a new air compressor and paint gun to replace an old paint sprayer. $($Both items belong to Class $9$ and have a $25\%$ CCA rate$)$ These two new items cost $$13,400$ and have a useful life of four years, at which time they can be sold for $$3,000$ The old paint sprayer can be sold now for $$640$ and could be scrapped for $$390$ in four years. The entrepreneural student belleves that operating revenues will increase annually by $$9,400$ The tax rate is $22\%$ and the required rate of return is $15\%$

What is the NPV of the new equipment? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places. Omit $ sign in your response.$)$

NPV

$

Should the purchase be made?

Yes

No