Suppose that you have just completed the mechanical design of a high-speed automated palletizer that has an investment cost of $2,900,000. The existing palletizer is quite old and has no salvage value. The market value for the new palletizer is estimated to be $190,000 after seven years. One 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 expenses) will have to be generated by the palletizer tojustify this purchase in view of a MARR of 17% per year? Use the AW method. 3 Click the icon to view the interest and annuity table for discrete compounding when the MARR is 17% per year. The net savings required to be generated by the new palletizer tojustify its purchase are $ per pallet. (Round to the nearest cent.)