Required information (The following information applies to the questions displayed below.] Beacon Company is considering automating its production facility. The initial investment in automation would be $9.21 million, and the equipment has a useful life of 7 years with a residual value of $1,160,000. The company will use straight- line depreciation Beacon could expect a production increase of 30,000 units per year and a reduction of 20 percent in the labor cost per unit Current (no Proposed automation) (automation) 21,000 units 101,000 units Per Per Production and sales volume Unit Total Unit Total Sales revenue $ 98 $ $ 98 $ Variable conta Direct materials $ 17 Direct labor 25 Variable manufacturing overhead 10 Total variable manufacturing 52 conto Contribution margin 2 $ 51 2 Fixed manufacturing costs $ 1,200,000 $ 2,330,000 Net operating income 7 2 $ 17 2 10 2 4. Using a discount rate of 14 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 Annulty 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.) Not present value