LINIC TOURING O pts in catatan pintu privi Beacon Company is considering automating its production facility. The initial investment in automation would be $8.42 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 32,000 units per year and a reduction of 20 percent in the labor cost per unit. Current (no automation) 72,000 Proposed (automation) 104,000 units Per Unit $ 98 Total $ ? Production and sales volume Sales revenue Variable costs Direct materials Direct labor Variable manufacturing overhead Total variable manufacturing costs Contribution margin Fixed manufacturing costs $ 17 Net operating income PA11-2 Part 4 units Per Unit $ 98 Total $ ? $ 17 20 9 ? 9 46 ? $ 52 ? 1,200,000 ? $ 56 ? 2,310,000 ? Required: 4. Using a discount rate of 13 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.) Note: Use appropriate factor(s) from the tables provided. Negative amount should be indicated by a minus sign. Enter the answer in whole dollars. Net present value