Each year you need to power wash your deck.

You can rent a power washer for $36 per day. If you go with this option, you will pay $36 each year starting today up to and including year 9 - you only need the washer one day per year.

If you buy the power washer, you will pay $253 today and the power washer will last up to and including year 9.

If your investments earn 4.77% compounded annually, how much does it save or cost you in present value terms to own the power washer?

If it cost you more in PV terms to own the power washer, make your answer a negative number.

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