Robert Williams owns a garage and is contemplating purchasing a tire retreading machine for $$11,000.$ After estimating costs and revenues, Robert projects a net cash inflow from the retreading machine of $$2,420$ annually for $9$ years. Robert hopes to earn a return of $11\%$ on such investments. What is the present value of the retreading operation? Should Robert Williams 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$.15\mathrm{.}25.)$

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$($a$)$ The present value of the retreading operation is

$($b$)$ Robert Williams $$ purchase the retreading machine.

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should should not