Reter to the HR Reports in the Inquirer. Through past investments in recruiting and training Baldwin has obtained a producivity

index of $109\mathrm{.}4\%.$ This means that Baldwin's labor costs would be increased by $9\mathrm{.}4\%$ if it did not have these productivity

improvements. This is a competitive advantage that Baldwin can sustain or even widen further if its competitors have no HR

intatives. Now, refer to the Income Statement in Baldwin's Annual Report. How much did Baldwin's productivity improvements

save in inect labor costs $($in thousands$)$ last year?

Seted : $1$

$$3\mathrm{.}065$

$53\mathrm{.}143$

$$29\mathrm{.}809$

$3821$