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. Proposed (automation) 101.000 unita Per Unit Total $.98 $? Current (no automation) 71,000 units Per Production and sales volume Unit Total Sales revenue S 98 $? Variable costs Direct materials $ 17 Direct labor 25 Variable manufacturing overhead 10 Total variable manufacturing 52 costs Contribution margin $ 46 Fixed manufacturing costs 5 1,200,000 7 Net operating Income $ 17 ? 10 7 $51 5 2,330,000 2 5. Recalculate the NPV using a 9 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.) Net present value