Question: Mark Barton owns a garage and is contemplating purchasing a tire retreading machine for $18,000. After estimating costs and revenues, Mark projects a net cash

Mark Barton owns a garage and is contemplating purchasing a tire retreading machine for $18,000. After estimating costs and revenues, Mark projects a net cash inflow from the retreading machine of $3,200 annually for 8 years. Mark hopes to earn a return of 9% on such investments. What is the present value of the retreading operation, rounded to whole dollars?

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