Current Attempt in Progress

Andrew Googal owns a garage and is contemplating purchasing a tire retreading machine for $$26,820.$ After estimating costs and revenues, Andrew projects a net cash inflow from the retreading machine of $$4,200$ annually for $10$ years. Andrew hopes to earn a return of $8\%$ 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$.25\mathrm{.}25.)$

Present value

$ $$

Should Andrew Googal purchase the retreading machine?

Andrew Googal $$ purchase the retreading machine.