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An automotive manufacturer is planning to automate a welding stati0n that it has at its facility. It knows that eliminating the labor at this station would result in an annual labor savings of $550,000 per year. However, it is not sure how much the welding station will cost. The manufacturer assumes a planning horizon of 9 years and a MARR of 12%; it also assumes that the welding station will have negligible salvage value at the end of 9 years due to changes in this technology. What would be the present worth of the welding station if its initial investment cost were $2,100,000; $2,600,000; or $3,100.000? What is the maximum amount that the welding station could cost to justify the installation of the welding station? Click here to access the TVM Factor Table calculator. IfP= $2,100,000, PW: $ If P = -$2.600.000, PW = $ If P = -$3,100.000, PW = $ Maximum investment permitted: $ million Carry all interim calculations to 5 decimal places and then round your nal answers for the present worth amounts to a whole number and for the maximum permitted investment to 3 decimal places. Please enter your answer is millions of dollars for the maximum permitted investment. The tolerance is :30 for the present worth amounts and $0.010 for the maximum permitted investment