2. You plan to purchase a new TIG welder for your company. It will cost $2,800 now and will need $60 in repairs at the

[answerhappygod]

2. You plan to purchase a new TIG welder for your company.
It will cost $2,800 now and will need $60 in repairs at the
end of the 3rd year and $130 in repairs at the end of the 4th
year. It will be sold for scrap metal for $115 at the end of
the 5th year. With an 7.25% APR compounded monthly, what is
the present worth of the welder? Answer should be rounded to
the nearest cent (ie two decimal places).