David Davis owns a garage and is contemplating purchasing a tire retreading machine for $12,500. After estimating costs and revenues, David projects a net cash inflow from the retreading machine of $2.750 annually for 7 years. David hopes to earn a return of 7% on such investments. What is the present value of the retreading operation? Should David Davis purchase the retreading machine? (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (Round answer to 2 decimal places, es. 15.25.) Click here to view the factor table. (a) The present value of the retreading operation is (b) David Davis purchase the retreading machine. eTextbook and Media vero Attempts: 0 of 3 used Submit