A large electronic retailer is considering the purchase of software that will minimize shipping expenses in its supply chain network. This software, including installation and training, would be a $ 10-million investment for the retailer. If the firm's effective interest rate is 12% per year and the life of the software is four years, what annual savings in shipping expenses must there be to justify the purchase of the software? Click the icon to view the interest and annuity table for discrete compounding when i = 12% per year. The annual savings in shipping expenses are $ million. (Round to three decimal places.) More Info M M 1 2 3 3 4 5 Discrete Compounding; -12% Single Payment Uniform Series Compound Compound Capital Amount Present Amount Present Sinking Fund Recovery Factor Worth Factor Factor Worth Factor Factor Factor To Find F To Find P To Find F To Find P To Find A To Find A Given P Given F Given A Given A Given Given P FIP P/F FA P/A A/F A/P 1.1200 0.8929 1.0000 0.8929 1.0000 1.1200 1.2544 0.7972 2.1200 1.6901 0.4717 0.5917 1.4049 0.7118 3.3744 2.4018 0.2963 0.4163 1.5735 0.6355 4.7793 3.0373 0.2092 0.3292 1.7623 0.5674 6.3528 3.6048 0.1574 0.2774 1.9738 0.5066 8.1152 4.1114 0.1232 0.2432 2.2107 0.4523 10.0890 4.5638 0.0991 0.2191 2.4760 0.4039 12.2997 4.9676 0.0813 0.2013 2.7731 0.3606 14.7757 5.3282 0.0677 0.1877 3.1058 0.3220 17.5487 5.6502 0.0570 0.1770 6 7 8 9 10 Enter your answer in the answer box and then click Check Answ