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Overtime at The Office Incorporated has gotten out of control as a result of frequent mailings that are very time consuming to fold and

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Overtime at The Office Incorporated has gotten out of control as a result of frequent mailings that are very time consuming to fold and stuff into envelopes. The Office is considering purchasing a machine that folds letters, stuffs them into envelopes, and places the appropriate postage on them. The machine should completely eliminate overtime and save The Office $4,289 per year. The machine will cost $25,062 and is expected to last 9 years. What is the Present Value Factor of an Annuity we would look for in the table to determine the IRR (ie. 3.724)? Round your answer to three decimal places.

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