Muirfield Corporation is planning to lease a machine for the next six years for an annual lease payment of $1700 paid in advance, plus an initial fee of $500. There is a one-year delay for the tax benefits of lease payments and the initial fee. Muirfield may buy the machine, depreciate it fully over the next six years, and then sell it for 20% of the purchase price. Muirfield can borrow the money at 9% interest rate to finance the purchase, and its tax rate is 30%. Calculate the price of the machine, which will make purchasing or leasing to be equally costly.