An automobile manufacturer has numerous robotic welders, and checkers with sensors.One robotic welder costing $1,600,000 (7-year property class) was installed and is increasing productivity by 2.5 percent in one area.The result is a savings of $530,000 per year.Deductible expenses other than depreciation and interest associated with the installed robotic welder are only $150,000.The company borrowed $550,000 at 11 percent for 5 years.They plan to keep the welder for 8 years.The company's marginal tax rate is 40 percent and their MARR is 8 percent after taxes.Determine the PW of the investment if the loan is paid back with equal annual payments each year (interest plus principal) or what your text calls Method 3.