-akeside Incorporated is considering replacing old production equipment with state-of-the-art technology that will allow roduction cost savings of $10,000 per month. The new equipment will have a five-year life and cost $420,000, with an estimated salvage value of $30,000. Lakeside's cost of capital is 12%. Table 64 and Table 65. Required: Calculate the present value ratio of the new production equipment. Note: Use appropriate factor(s) from the tables provided. Round the PV factors to 4 decimals. Round your answer to 2 decimal places. Answer is complete but not entirely correct