f Appendix G Homework 1.5/3 III Question 9 of 12 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. James Googal owns a garage and is contemplating purchasing a tire retreading machine for $10,000. After estimating costs and revenues, James projects a net cash inflow from the retreading machine of $2,200 annually for 5 years. James hopes to earn a return of 7% on such investments. What is the present value of the retreading operation? Should James Googal purchase the retreading machine? (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (Round answer to 2 decimal places, eg. 15.25.) Click here to view the factor table. (a) The present value of the retreading operation is 9022.66 (6) James Googal should purchase the retreading machine. e Textbook and Media Save for Later Attempts: 2 of 5 used Submit