Using a discount rate of 15 percent, calculate the net present value (NPV) of the proposed investment.

PA11-2 (Algo) Making Automation Decision [LO 11-1, 11-2, 11-3, 11-5] [The following information applies to the questions displayed below.] Beacon Company is considering automating its production facility. The initial investment in automation would be $8.39 million, and the equipment has a useful life of 7 years with a residual value of $1,180,000. The company will use straightline depreciation. Beacon could expect a production increase of 48,000 units per year and a reduction of 20 percent in the labor cost per unit. PA11-2 Part 4 Required: 4. Using a discount rate of 15 percent, calculate the net present value (NPV) of the proposed investment. 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