A new automotive “dry paint” separation process is environmentally friendly and is expected to save $8.00 per car painted at a Detroit plant. The installed cost of the process is $8 million, and...

A new automotive “dry paint” separation process is environmentally friendly and is expected to save $8.00 per car painted at a Detroit plant. The installed cost of the process is $8 million, and 250,000 cars are painted each year.What is the simple payback for the new technology?