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The aged but cenrally located golf course you manage does not have a in - ground automated water sprinkling system. Instead, to properly water the

The aged but cenrally located golf course you manage does not have a in-ground automated water sprinkling system. Instead, to properly water the course, sprinklers and hoses must be repeatedly set, moved, and put away by some of the grounds crew a tedious and laborious task. If over the next 12 years, you project annual savings of about $40,000 from having an automated system, what is the maximum price you would be willing to pay today for an installed, automated golf course sprinkler system? (Assume a interest rate of 6% and you may ignore income taxes)

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