Beacon Company is considering automating its production facility. The initial investment in automation would be $8.45 million, and the equipment has a useful life of 7 years with a residual value of $1,170,000. The company will use straight-line depreciation. Beacon could expect a production increase of 36,000 units per year and a reduction of 20 percent in the labor cost per unit.

[The following information applies to the questions displayed below.]

	Current (no automation)		Proposed (automation)
Production and Sales Volume	86000 Units		122000 Units
Per Unit	Per Unit	Total	Per Unit	Total
Sales Revenue	$91	$7,826,000	$91	$11,102,000
Variable Costs:
Direct Materials	$17		$17
Direct Labor	20		16
Variable Manufacturing Overhead	8		8
Total Variable Manufacturing Costs	45		41
Contribution Margin	$46	3,956,000	$50	6,100,000
Fixed Manufacturing Costs		$1,210,000		2,240,000
Net Operating Income		$2,746,000		$3,860,000

These are correct numbers above my question is how to solve the following?

2.	Determine the project's accounting rate of return. (Round your answer to 2 decimal places.)

3.	Determine the project's payback period. (in years)(Round your answer to 2 decimal places.)

4.	Using a discount rate of 15 percent, calculate the net present value (NPV) of the proposed investment. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided.) Net Present Value=?
5.	Recalculate the NPV using a 10% discount rate. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided.) Net Present Value=?