Kenneth Clark owns a garage and is contemplating purchasing a tire retreading machine for $18,000. After estimating costs and revenues, Kenneth projects a net cash inflow from the retreading machine of $3,960 annually for 7 years. Kenneth hopes to earn a return of 9% on such investments. What is the present value of the retreading operation? Should Kenneth Clark purchase the retreading machine? (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (Round answer to 2 decimal places, e.g. 15.25.) Click here to view the factor table. (a) The present value of the retreading operation is (b) Kenneth Clark purchase the retreading machine