Faced with rising pressure for a $$13$ per hour minimum wage rate, the farming industry is currently exploring the possible use of robotics to replace some farm workers. The Lettuce Tech is one such robot; its job is to thin out a field of lettuce, removing the least promising buds of lettuce. By removing these weaker plants, the stronger lettuce plants have more room to grow. Assume the following facts:

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While the Lettuce Tech itself may be in workable condition for up to five years, assume that the farm would view its implementation as a one$-$year experiment

Requirement

Perform a cost$-$benefit analysis for the first year of implementation to determine whether the Lettuce Tech would be a financially viable investment if the minimum wage is raised to $$13$ per hour. $($Round your answers to the nearest whole dollar.$)$

Cost$-$Benefit Analysis

Expected Benefits $($Cost Savings$)$:

Total expected benefits

Expected Costs:

Total expected costs

Net expected benefit $($cost$)$

Cost and Benefit Information

One Lettuce Tech would do the work of $15$ farm workers.

Each farm worker typically works $50$ hours on the lettuce thinning process each year.

Each farm worker would earn $$13$ per hour plus $7\mathrm{.}65\%$ payroll tax.

The Lettuce Tech is estimated to cost $$5,500$ plus $$750$ for delivery.

Annual costs of operating the Lettuce Tech are expected to be $$2,600.$