Please answer below question

em what lump-sum amount of money (invested now) will be required to endow this award forever? (5.3) 5-4. Suppose that you have just completed the mecha- nical design of a high-speed automated palletizer that has an investment cost of $8,000,000. The existing palletizer is quite old and has no salvage value. The market value for the new palletizer is estimated to be $500,000 after eight years. Two million pallets will be handled by the palletizer each year during the seven-year expected project life. What net savings per pallet (i.e., total savings less and expenses) will have to be generated by the palletizer to ally justify this purchase in view of a MARR of 15% per year? ited (5.3)