Time Trends integrated time clock and payroll system sells for $348,464. At this price, the annual cost savings that the system will generate for Building Keepers, a facilities management company, over its 9-year life will yield an internal rate of return of 12%. Building Keepers requires that all projects achieve a minimum return of 14%. Click here to view the factor table. What price does Building Keepers need to negotiate with Time Trends so that the system will achieve that return? (For calculation purposes, use 4 decimal places as displayed in the factor table provided. Round "Annual cost saving" to O decimal place, e.g. 58,975 and final answer to 2 decimal places, e.g. 58,971.25.) Negotiation price $ APPENDIX 9.1 Present value of $1 received in n periods. Periods 4% 1 2 3 5% 0.9615 0.9524 0.9434 0.9246 0.9070 0.8900 0.8890 0.8638 0.8396 6% 7% 9% 0.9346 0.8734 0.8163 4 0.8548 0.8227 0.7921 0.7629 5 0.8219 0.7835 0.7473 0.7130 8% 10% 11% 12% 13% 0.9259 0.9174 0.9091 0.9009 0.8929 0.8850 0.8573 0.8417 0.8264 0.8116 0.7972 0.7831 0.7695 0.7432 0.7182 0.6944 0.7938 0.7722 0.7513 0.7312 0.7118 0.6931 0.6750 0.6407 0.6086 0.5787 0.7350 0.7084 0.6830 0.6587 0.6355 0.6133 0.5921 0.5523 0.5158 0.4823 0.6806 0.6499 0.6209 0.5935 0.5674 0.5428 0.5194 0.4761 0.4371 0.4019 14% 16% 18% 20% 0.8772 0.8621 0.8475 0.8333 67899 0.6663 0.6227 10 0.6756 0.6139 0.7903 0.7462 0.7050 0.6302 0.5963 0.5645 0.5346 0.5066 0.4803 0.4556 0.7599 0.7107 0.6651 0.5835 0.5470 0.5132 0.4817 0.4523 0.4251 0.3996 0.7307 0.6768 0.6274 0.5820 0.5403 0.5019 0.4665 0.4339 0.4039 0.3762 0.3506 0.7026 0.6446 0.5919 0.5439 0.5002 0.4604 0.4241 0.3909 0.3606 0.3329 0.3075 0.5584 0.5083 0.4632 0.4224 0.3855 0.3522 0.3220 0.2946 0.2697 0.4104 0.3704 0.3349 0.3538 0.3139 0.2791 0.3050 0.2660 0.2326 0.2630 0.2255 0.1938 0.2267 0.1911 0.1615 11 12 13 14 15 0.6496 0.5847 0.5268 0.4751 0.4289 0.3875 0.3505 0.3173 0.6246 0.5568 0.4970 0.4440 0.3971 0.3555 0.3186 0.2858 0.6006 0.5303 0.4688 0.4150 0.3677 0.3262 0.2897 0.2575 0.5775 0.5051 0.4423 0.3878 0.3405 0.2992 0.2633 0.2320 0.5553 0.4810 0.4173 0.3624 0.3152 0.2745 0.2394 0.2090 0.2875 0.2607 0.2366 0.1954 0.1619 0.1346 0.2567 0.2307 0.2076 0.1685 0.1372 0.1122 0.2292 0.2042 0.1821 0.1452 0.1163 0.0935 0.2046 0.1807 0.1597 0.1252 0.0985 0.0779 0.1827 0.1599 0.1401 0.1079 0.0835 0.0649 16 0.2919 17 18 20 28 19 0.5339 0.4581 0.3936 0.3387 0.2519 0.2176 0.1883 0.1631 0.1415 0.1229 0.0930 0.0708 0.0541 0.5134 0.4363 0.3714 0.3166 0.2703 0.2311 0.1978 0.1696 0.1456 0.1252 0.1078 0.0802 0.0600 0.0451 0.4936 0.4155 0.3503 0.2959 0.2502 0.2120 0.1799 0.1528 0.1300 0.1108 0.0946 0.0691 0.0508 0.0376 0.4746 0.3957 0.3305 0.2765 0.2317 0.1945 0.1635 0.1377 0.1161 0.0981 0.0829 0.0596 0.0431 0.0313 0.4564 0.3769 0.3118 0.2584 0.2145 0.1784 0.1486 0.1240 0.1037 0.0868 0.0728 0.0514 0.0365 0.0261 $1 PV= (1 + i)" APPENDIX 9.2 Present value of an annuity of $1 per period. Periods 4% 1 2 5% 0.9615 0.9524 1.8861 1.8594 6% 0.9434 1.8334 3 2.7751 2.7232 2.6730 4 3.6299 5 4.4518 7% 8% 9% 0.9346 0.9259 0.9174 1.8080 1.7833 1.7591 2.6243 2.5771 2.5313 3.5460 3.4651 3.3872 3.3121 3.2397 4.3295 4.2124 4.1002 3.9927 3.8897 10% 11% 12% 13% 14% 16% 20% 0.9091 0.9009 0.8929 0.8850 0.8772 0.8621 0.8475 0.8333 1.7355 1.7125 1.6901 1.6681 1.6467 1.6052 1.5656 1.5278 2.4868 2.4437 2.4018 2.3612 2.3216 2.2459 2.1743 2.1065 3.1698 3.1024 3.0373 2.9745 2.9137 2.7982 2.6901 2.5887 3.7907 3.6959 3.6048 3.5172 3.4331 3.2743 3.1272 2.9906 18% 68699 7 10 7.4353 7.1078 6.8017 8.1109 7.7217 7.3601 5.2421 5.0757 4.9173 4.7665 4.6229 4.4859 4.3553 6.0021 5.7864 5.5824 5.3893 5.2064 5.0330 4.8684 6.7327 6.4632 6.2098 5.9713 5.7466 5.5348 5.3349 6.5152 6.2469 5.9952 5.7590 7.0236 6.7101 6.4177 6.1446 4.2305 4.1114 3.9975 3.8887 3.6847 3.4976 3.3255 4.7122 4.5638 4.4226 4.2883 4.0386 3.8115 3.6046 5.1461 4.9676 4.7988 4.6389 4.3436 4.0776 3.8372 5.5370 5.3282 5.1317 4.9464 4.6065 4.3030 4.0310 5.8892 5.6502 5.4262 5.2161 4.8332 4.4941 4.1925 =2235 11 8.7605 8.3064 7.8869 12 13 9.3851 8.8633 8.3838 9.9856 9.3936 8.8527 14 15 10.5631 9.8986 9.2950 11.1184 10.3797 9.7122 8.7455 8.2442 7.7862 9.1079 8.5595 8.0607 7.4987 7.1390 6.8052 6.4951 6.2065 5.9377 5.6869 5.4527 5.0286 4.6560 4.3271 7.9427 7.5361 7.1607 6.8137 6.4924 6.1944 5.9176 5.6603 5.1971 4.7932 4.4392 8.3577 7.9038 7.4869 7.1034 6.7499 6.4235 6.1218 5.8424 5.3423 4.9095 4.5327 7.3667 6.9819 6.6282 6.3025 6.0021 7.6061 7.1909 6.8109 6.4624 6.1422 5.4675 5.0081 4.6106 5.5755 5.0916 4.6755 16 17 18 19 20 11.6523 10.8378 10.1059 9.4466 8.8514 8.3126 7.8237 7.3792 6.9740 6.6039 6.2651 5.6685 5.1624 4.7296 12.1657 11.2741 10.4773 9.7632 9.1216 8.5436 8.0216 7.5488 7.1196 6.7291 6.3729 5.7487 5.2223 4.7746 12.6593 11.6896 10.8276 10.0591 9.3719 8.7556 8.2014 7.7016 7.2497 6.8399 6.4674 5.8178 5.2732 4.8122 13.1339 12.0853 11.1581 10.3356 9.6036 8.9501 8.3649 7.8393 7.3658 6.9380 6.5504 5.8775 5.3162 4.8435 13.5903 12.4622 11.4699 10.5940 9.8181 9.1285 8.5136 7.9633 7.4694 7.0248 6.6231 5.9288 5.3527 4.8696 1 $1 - (1+i)" PVA= i