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Beacon Company is considering automating its production facility. The initial investment in automation would be $11.33 million, and the equipment has a useful life of 9 years with a residual value of $1,160,000. The company will use straight-line depreciation. Beacon could expect a production increase of 40,000 units per year and a reduction of 20 percent in the labor cost per unit. Required: 1-a. Complete the following table showing the totals. (Enter your answers in whole dollars, not in millions.) 1-b. Does Beacon Company favor automation? Yes No 2. Determine the project's accounting rate of return. (Round your answer to 2 decimal places.) Accounting rate of return 3. Determine the project's payback period. (Round your answer to 2 decimal places.) Payback period years 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.) (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 5. Recalculate the NPV using a 8 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