Faced with rising pressure for a $14 per hour minimum wage rate, the farming industry is currently exploring the possible while the Farmhand itself ma use of robotics to replace some farm workers. The Farmhand is one such robotits job is to thin out a field of lettuce, implementation as a one-year removing the least promising buds of lettuce. By removing these weaker plants, the stronger lettuce plants have more room to grow. Assume the following facts: Requirement (Click the icon to view the information) Perform a cost-benefit analysi financially viable investment if dollar.) Cast-Benefit Analysis Expected Benefits (Cost Savings): Wages Payroll taxes Total expected benefits Expected Costs: Machine cost Delivery cost Annual operating costs Total expected costs Net expected benefit (cost) y exploring the possible While the Farnhand itself may be in workable condition for up to five years, assume that the farm would view its ut a field of lettuce, implementation as a one-year experiment. ce plants have more Requirement Perform a cost-benefit analysis for the first year of implementation to determine whether the Farmhand would be a financially viable investment if the minimum wage is raised to $14 per hour. (Round your answers to the nearest whole dollar.) 1. One Farmhand would do the work of 25 farm workers. 2. Each farm worker typically works 30 hours on the lettuce thinning process each year. 3. Each farm worker would earn $14 per hour plus 7.65% payroll tax. 4. The Farmhand is estimated to cost $7,000 plus $450 for delivery. 5. Annual costs of operating the Farmhand are expected to be $2,400. Print Done Check