The Atlantic Medical Clinic can purchase a new computer system that will save $$3,000$ annually in billing costs. The computer system will last for six years and have no salvage value.

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using tables.

Required:

What is the maximum price $($i$.$e$.,$ the price that exactly equals the present value of the annual savings in billing costs$)$ Atlantic Medical Clinic should be willing to pay for the new computer system if the clinic$$s required rate of return is:

Note: Round your final answer to the nearest whole dollar amount.

ten percent:

twelve percent: