A company plans to buy patent A for 3 years.

Interest repays the principal and interest in one lump sum, generally excluding compound interest.

So, first calculate the money you can get after three years:

3000+3000× 12%×3=4080

Then discount it.

4080×PVIF(3.8%)=

4080×0.7938=3238.704

Therefore, enterprises can only buy when the issue price is lower than 3238.704.