3 ! Required information Part 2 of 4 [The following information applies to the questions displayed below.] Project Y requires a $334,500 investment for new machinery with a four-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.) 10 points Project Y $ 395,000 eBook Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation - Machinery Selling, general, and administrative expenses Income 176, 960 83,625 28,000 $ 106, 415 Print 2. Determine Project Y's payback period. Payback Period 1 Denominator: Numerator: Payback Period Project Y