Current Attempt in Progress David Davis owns a garage and is contemplating purchasing a tire retreading machine for $13,820. After estimating costs and revenues, David projects a net cash inflow from the retreading machine of $3,000 annually for 7 years. David hopes to earn a return of 9% on such investments. What is the present value of the retreading operation? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 5.27541. Round answer to 2 decimal places, e.g. 25.25.) Present value $ Should David purchase the retreading machine? David purchase the tire retreading machine. eTextbook and Media Your answer is incorrect. Sheffield Corp. is about to issue $338,000 of 10-year bonds paying an 12% interest rate, with interest payable annually. The discount rate for such securities is 8%. Click here to view the factor table 1. Table 2 Table 3 Table 4 How much can Sheffield expect to receive for the sale of these bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided,e.g. 5.25471. Round answer to O decimal places, e.g. 2,525.) Sheffield can expect to receive Textbook and Media 429871