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:

Plan 1- Pay the accumulated interest at the end of each interest period and pay the principal at the end of each period.

Plan 2- Make equal principal payments, plus interest on the unpaid balance at the end of each period.

Plan 3- Make equal principal-plus-interst end-of-period payments.

Plan 4- Make a single payment of principal and interest at the end of the loan period

a) The loan is paid back using Plan 1.

b) The loan is paid back using Plan 2.

c) The loan is paid back using Plan 3.

d) The loan is paid back using Plan 4.