Beacon Company is considering automating its production facility. The initial investment in automation would be $9.16 million, and the equipment has a useful life of 8 years with a residual value of $1,000,000. The company will use straight-line depreciation. Beacon could expect a production increase of 45,000 units per year and a reduction of 20 percent in the labor cost per unit. Current (no automation) 79.000 units Proposed (automation) 124,000 units Production and sales volume Per Unit $ 91 Per Unit $ 91 Total Total Sales revenue Varlable costs S 16 25 $ 16 Direct materials Direct labor Varlable manufacturing overhead Total variable manufacturing costs Contribution margin Fixed manufacturing costs 50 $ 46 $ 1,160,000 $2,160,000 Net operating Income Required 1-a. Complete the following table showing the totals. (Enter all answers in whole dollars.) Current (no automation) Proposed (automation) Production and Sales Volume S 79,000 Units Per Unit $ 91 $7.189,000|$ $ 124,000 Units Total Per Unit Total Sales Revenue 91 $11,284,000 Variable Costs Direct Materials 16 16 Direct Labor 25 20 Variable Manufacturing Overhead Total Variable Manufacturing Costs Contribution Margin Fixed Manufacturing Costs Net Operating Income 50 45 S 413,239,0005,704,000 2,160,000 3,544,000 $1,160,000 $ 2,079,000 2. Determine the project's accounting rate of return. (Round your answer to 2 decimal places.) ting Rate of Return 3. Determine the project's payback period. (Round your answer to 2 decimal places.) Payback Period years Value of $1, Present Value of $1, Future Value 4. Using a discount rate of 13 percent, calculate the net present value (NPV) of the proposed investment. ( Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Negative amount should be indicated by a minus sign Enter the answer in whole dollar. Round the final answer to nearest whole dollars.) Net Present Value 5. Recalculate the NPV using a 8% discount rate. (Future value ofS1. Present Vialue of S1. Euture value Annuity of $1. PresentvalueAnnuity of $1.) (Use appropriate factor(s) from the tables provided. Negative amount should be indicated by a minus sign. Enter the answer in whole dollar. Round the final answer to nearest whole dollars.) Net Present Value