Question: Time Trends integrated time clock and payroll system sells for $313,533. At this price, the annual cost savings that the system will generate for Building

Time Trends integrated time clock and payroll system sells for $313,533.

Time Trends integrated time clock and payroll system sells for $313,533. At this price, the annual cost savings that the system will generate for Building Keepers, a facilities management company, over its 7-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 0 decimal place, e.g. 58,975 and final answer to 2 decimal places, e.g. 58,971.25.) Negotiation price $

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