CALCULATORPRINTER VERSION UACK Question 2 Novak Company manufactures automobile components for the worldwide market. The company has three large production facilities in Virginia, New Jersey, and California, which have been operating for many years. Brett Harker, vice president of production, believes it is time to upgrade operations by implementing computer-integrated manufacturing (CIM) at one of the plants. Brett has asked corporate controller Connie Carson to gather information about the costs and benefits of implementing CIM. Carson has gathered the following data: Initial equipment cost Working capital required at start-up Salvage value of existing equipment Annual operating cost savings Salvage value of new equipment at end of its useful life 250,000 Working capital released at end of its useful life Useful life of equipment $7,500,000 $750,000 $93,750 s1,050,000 $ 750,000 10 years Novak Company uses a 12% discount rate. Calculate the net present value of Novak's proposed investment in CIM. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to o decimal place, e.g. 58,971. Enter negative amounts using a negative sign preceding the number, e.g. -59,991 or parentheses, e.g. (59,991).) Net present value