The mayor of Smalltown, Western Australia, is considering the purchase of a computer system to automate the city's rate collections. The system costs $75 000 and has an estimated life of five years. The mayor estimates the following savings will result if the system is purchased. 
If Smalltown uses a 10 per cent discount rate for capital budgeting decisions, what is the net present value of the computer system?
Definitions:
Union Dues
Membership fees paid by workers to labor unions for representation and services provided.
State Income Tax
A tax levied by a state on the income earned by its residents and businesses operating within the state.
Federal Income Tax
Tax levied by the federal government on individuals, corporations, estates, and other entities' annual earnings.
State Unemployment
A government-provided insurance program that offers temporary financial assistance to the unemployed who lost their jobs through no fault of their own.
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