This question falls under the umbrella of "Financial Measures and Cost of Quality."Using the scenario provided, calculate the net financial benefit per year.Please show how you arrived at the final answer.

Background: New Postal does intra-city package deliveries in seven major metropolitan areas. The performance of New Postal, is measured by management as: (1) delivery time (relative to budgeted delivery time) (2) on-time delivery rates (defined as agreed-upon delivery date/time plus or minus a specified cushion) (3) percentage of lost or damaged deliveries In response to competitive pressures, New Postal is evaluating an investment in new technology that would improve customer service and delivery quality, particularly in terms of items (2) and (3) above. The cost of the new technology, for each of the seven metropolitan areas serviced by New Postal, is expected to be $80,000. You have gathered the following information regarding delivery performance under both existing operations and after implementing the new technology: Decision Alternative After Implementing Item Current System New Technology On-time delivery rate 80% 95% Variable cost per package lost or damaged $30 $30 Allocated fixed cost per package lost or damaged $10 $10 Annual no. of packages lost or damaged 300 100 Based on a recent marketing study commissioned by New Postal, the company estimates that each percentage point increase in the on-time performance rate would lead to an annual revenue increase of $10,000. The average contribution margin ratio for packages delivered by New Postal is estimated as 40%. Question: Calculate the net financial benefit per year: Please demonstrate how you arrived at this