Kenmo Company is considering purchasing equipment. The equipment will produce the following cash inflows: Year 1, $40,000; Year 2, $45,000; and Year 3, $50,000. Kenmo plans to sell the machine at the end of Year 3 for $ 18,000. Assuming Kenmo requires a minimum rate of return of 8%, what is the maximum price Kenmo should pay for this equipment, rounded to whole dollars?