A large construction job will take $4$ years to complete. The costs of the

many required inspections can be reduced by purchasing a voice recognition

system to act as the $$front end$$ for a word processor. Then, inspectors

can be trained to record their comments and revise the written output of

an automated form.

The firm$$s interest rate is $12\%.$ What is the PW of the cash flows for the

voice recognition system? The first cost for purchase and training is

$$100$K$.$ Savings are estimated at $$30$K$,$ $$40$K$,$ $$65$K$,$ and $$35$K for the $4$ years

of construction.