Hyundai USA has numerous robotic welders as well as robotic checkers with vision. One small underbody robotic welder costing $1,200,000 (7-year Property class) was installed and is increasing productivity by 2.5% in one area. The result is a savings of $500,000 per year. Deductable expenses other than the depreciation and interest associated with the installed robotic welder are only $120,000. Hyundai borrowed $550,000 at 11% for 5 years. They plan to keep the welder for 8 years. Hyundai's marginal tax rate is 40% and their MARR is 9% after taxes. Determine the PW, FW, AW, IRR, and ERR for the investment if the loan is paid back using:

Plan 2: make equal principal payments, plus interest, plus interest on the unpaid balance at the end of the period