A piece of equipment was bought by a contractor to save on energy and labor costs. The machine costs now $1 million and has a life of 50 years. If the interest rate is 8%, how much must be saved every year starting at the end of year 4 , to recover the cost of the capital invested in it? (Do not discount each amount as a single amount; use factors/formula for a series; discounting single amounts of a series will get you zero for the question)