PLEASE HELP THE ANSWER IS NOT NOT NOT 34988.86

A machine that lasts four years has the following net cash outflows: $12,500 to purchase the machine and $7,500 for the annual year-end operating cost. At the end of four years, the machine is sold for $3,200; thus, the cash flow at year 4, C4 is only $4,300: $ 12,500 C1 $ 7,500 C2 $ 7,500 C3 $ 7,500 C4 $ 4,300 The cost of capital is 8 percent. What is the present value of the costs of operating a series of such machines in perpetuity? (Input all amounts as positive values. Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Present value $ 34988