Crane Googal owns a garage and is contemplating purchasing a tire retreading machine for $13,820. After estimating costs and revenues, Crane projects a net cash inflow from the retreading machine of $2,600 annually for 7 years. Crane hopes to earn a return of 6% on such investments. Click here to view the factor table. (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.)

Present value

$enter the present value in dollars rounded to 2 decimal places

Should Crane Googal purchase the retreading machine?

Crane Googal select an option shouldshould not purchase the retreading machine.

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Appendix A Q10