Nick Heller owns a garage and is contemplating purchasing a tire retreading machine for $31,000. After estimating costs and revenues, Nick projects a net cash flow from the retreading machine of $4,300 annually for 11 years. Nick hopes to earn a return of 8% on such investments Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. What is the present value of the retreading operation? (Round answer to 2 decimal places, e.g. 25.25.) Present value s Should Nick purchase the retreading machine