The manager at a Sherwin-Williams store has decided to purchase a new \($30\),000 paint-mixing machine with hi-tech instrumentation for matching color and other components. The machine may be paid for in one of two ways:

(1) pay the full price now, less a 3 percent discount, or (2) pay \($5\),000 now, \($8\),000 one year from now, and \($6\),000 at the end of each of the next 4 years. If interest is 12 percent compounded annually, determine the best way for the manager to make the purchase.