1 - Determine the project accounting rate of return (round answer to two decimal points) 2 - Deternine project payback period 3 - using a discount rate of 14 percent, calculate the net present value (NVP) of the proposed investment (use future / present value table factors) 4 - Recalculate the NPV using a 9 percent discount rate [The following information applies to the questions displayed below.) Beacon Company is considering automating its production facility. The initial investment in automation would be $12.64 million, and the equipment has a useful life of 10 years with a residual value of $1,140,000. The company will use straight- line depreciation. Beacon could expect a production increase of 43,000 units per year and a reduction of 20 percent in the labor cost per unit. Current (no Proposed automation) (automation) 73,000 units 116,000 units Per Per Production and sales volume Unit Total Unit Total Sales revenue $ 98 $ ? $ 98 $ 2 Variable costs Direct materials $ 20 $ 20 Direct labor 30 2 Variab manufacturing overhead 9 9 Total variable manufacturing costs 59 2 Contribution margin $ 39 2 $ 45 2 Fixed manufacturing costs $ 1,120,000 $ 2,170,000 Net operating income ? 2