Rays Auto Shop would like to purchase another auto repair shop in the neighboring town that is being sold for $450,000. Assume cash flows occur at the end of the year. Based on past sales volume. Ray estimates the net cash flows that would be generated by the shop:

Years	Cash Flows
1-3	$60,000
4	70,000
5	80,000
6	60,000

After six years, Ray can sell the shop for $300,000, If the interest rate on this investment is 8% compounded annually, should Ray purchase the shop?

Please show all calculations leading up to the answer.