Beacon Company is considering automating its production facility. The initial investment in automation would be $9.19 million, and the equipment has a useful life of 7 years with a residual value of $1,140,000. The company will use straight line depreciation. Beacon could expect a production increase of 33,000 units per year and a reduction of 20 percent in the labor cost per unit. Current (no automation) 72,000 units Per Unit Total $ 90 $ ? Proposed (automation) 105,000 units Per Unit Total $ 90 $? $ 16 20 $16 Production and sales volume Sales revenue Variable costs Direct materials Direct labor Variable manufacturing overhead Total variable manufacturing costs Contribution margin Fixed manufacturing costs Net operating income 45 $ 45 $ 49 $ 1,090, eee $ 2,320, eee Requirea: 1-a. Complete the following table showing the totals. (Enter your answers in whole dollars, not in millior Current (no automation) 72,000 units Per Unit T otal $ 90 Proposed (automation) 105,000 units Per Unit T otal $ 90 16 16 Production and Sales Volume Sales revenue Variable costs Direct materials Direct labor Variable manufacturing overhead Total variable manufacturing costs Contribution margin Fixed manufacturing costs Net operating income $ 49 $ 1,090,000 $ 2,320,000 2. Determine the project's accounting rate of return. (Round your answer to 2 decimal places.) Accounting rate of return 3. Determine the project's payback period. (Round your answer to 2 decimal places.) Payback period years