You can purchase an optical scanner today for $$560.$ The scanner provides benefits worth $$75$ a year. The expected life of the scanner is $10$ years. Scanners are expected to decrease in price by $30\%$ per year. Suppose the discount rate is $8\%.$ When is the best time to purchase the scanner? $($Round your answer to the nearest cent.$)$

NPV is maximized when you wait

$5$ years to purchase the scanner. At this date NPV will be equivalent to $

today.