2. Determine Project Y's payback period. Numerator: Payback Period Denominator: Project Y = II = Payback Period 0 3. Compute Project Y's accounting rate of return. Numerator: Accounting Rate of Return Denominator: Project Y = || Accounting Rate of Return 0 4. Determine Project Y's net present value using 9% as the discount rate. (Do not round intermediate calculations. Round your present value factor to 4 decimals and final answers to the nearest whole dollar.) Years 1-6 Net present value Net Cash Flows Present Value of Annuity at 9% Present Value of Net Cash Flows = $ 0 ! Required information [The following information applies to the questions displayed below.] Project Y requires a $310,500 investment for new machinery with a six-year life and no salvage value. The project yields the following annual results. Cash flows occur evenly within each year. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income Project Y $ 385,000 172,480 51,750 28,000 $ 132,770 Required: 1. Compute Project Y's annual net cash flows. Annual amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income Net cash flow Income Cash Flow $ 385,000 172,480 51,750 28,000 $ 132,770 EA 0