Question: Please show all work. A mechanical robot that is part of a welding operation on an automobile assembly line costs $750,000. Because of specialized functions

Please show all work.
A mechanical robot that is part of a welding operation on an automobile assembly line costs $750,000. Because of specialized functions it performs its expected useful life is only 7 years, while its estimated salvage value when retired is anticipated to be approximately $50,000. What is the capital recovery with return for this investment if the interest rate is 20%? What annual labor savings must be realized over the robot's life to justify this expenditure
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