8. (10 pls manufacturing firm entered into a ten-ye contract for raw materials. The contract reg ed a payment of $10.000 initially and the a $20,000 per year beginning at the end of the fifth year. The company made unexpected profits and asked that it be allowed to make a lump sum payment at the end of the third year to pay off the remainder of the contract. What lump sum is necessary if the interest rate is 8 (HINT! At EOY3, the $10000 payment is a sunk cost and should not considered)