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 the shop would generate:

Years	Cash Flows
1-3	$60,000
4	65,000
5	75,000
6	80,000

After eight 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 use Excel and show formulas/functions.