Saxon Products, Incorporated, is investigating the purchase of a robot for use on the company's assembly line. Selected data relating to the robot are provided below. Cost of the robot Installation and software Annual savings in inventory carrying costs Annual increase in power and maintenance costs Salvage value in 5 years Useful life 2,000,000 $ 490,000 $ 218,000 $ 38,000 $ 78,000 5 years In addition to the data above, engineering studies suggest that use of the robot will result in a savings of 33,000 direct labor-hours each year. The labor rate is $16 per hour. Also, the smoother work flow made possible by the use of automation will allow the company to reduce the amount of inventory on hand by $408,000. This inventory reduction will take place at the end of the first year of operation; the released funds will be available for use elsewhere in the company. Saxon Products has a 19% required rate of return. Click here to view Exhibit 148-1 and Exhibit 148-2 to determine the appropriate discount factor(s) using tables this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Req 3A Req 38 Req 4A Req 48 Compute the net present value of the proposed investment in the robot. (Round your final answer to the nearest whole dollar amount.) Net present value