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Problem 1: You are the plant manager at GoPro Cameras. The company is developing a new model which will be ready in a year's time. Management wants to have Manufacturing ready to mass produce the camera when its ready, so they assign you to set up manufacturing. You are faced with two options, set up a manual operation or a fully automated assembly operation. To achieve the required production rate manually, you will need 5 operators in each of 2 shifts. Each operator costs the company $50,000/ year. The cost of the automated station would be $500k and would take 1 year to design and build. The life of the station is 7 years after installation (year 1 through 7). Maintenance on the station would cost $25k/ year. Assume the cost of money (R)=10% The Product Development team will have the camera ready for manufacture one year from today. (Assume the investment is made in year 0 , and savings begin in year 1) 1. Create a spreadsheet to evaluate the automated station investment. 2. What is the NVP of this investment? 3. What is the payback period (from installation)? 4. Which option would you recommend to your management