Barney Googal owns a garage and is contemplating purchasing a tire retreading machine for $26,820. After estimating costs and revenues, Barney projects a net cash inflow from the retreading machine of $4,200 annually for 10 years. Barney hopes to earn a return of 8% on such investments

(For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the present value of the retreading operation? (Round answer to 2 decimal places, e.g. 25.25.)

Should Barney Googal purchase the retreading machine?