Calculate NPV using 8 percent

Beacon Company is considering automating its production facility. The initial investment in automation would be $7.44 million, and the equipment has a useful life of 6 years with a residual value of $1,020,000. The company will use straight-line depreciation. Beacon could expect a production increase of 48,000 units per year and a reduction of 20 percent in the labor cost per unit. 5. Recalculate the NPV using a 8 percent 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. Negative amount should be indicated by a minus sign. Enter the answer in whole dollars.)