Crane Googal owns a garage and is contemplating purchasing a tire retreading machine for $23,820. After estimating costs and revenues, Crane projects a net cash inflow from the retreading machine of $4,800 annually for 7 years. Crane hopes to earn a return of 8% on such investments. Click here to view the factor table What is the present value of the retreading operation? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Present value $