Butler Corporation is considering the purchase of new equipment costing $69,000. The projected annual after-tax net income from the equipment is $2,500, after deducting $23,000 for depreciation. The revenue is to be received at the end of each year. The machine has a useful life of 3 years and no salvage value. Butler requires a 9% return on its investments. The present value of an annuity of 1 for different periods follows: