Barney Googal owns a garage and is contemplating purchasing a tire retreading machine for $11,820. After estimating costs and revenues, Barney projects a net cash inflow from the retreading machine of $2,700 annually for 7 years. Barney hopes to earn a return of 11% 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 Should Barney Googal purchase the retreading machine?
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