4 ! 4 Part 4 of 4 points eBook Print References Required information [The following information applies to the questions displayed below.] Project Y requires a $348,000 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) Note: 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 $ 360,000 161,280 87,000 26,000 $ 85,720 4. Determine Project Y's net present value using 9% as the discount rate. Note: Do not round intermediate calculations. Round your present value factor to 4 decimals and final answers to the nearest whole dollar. Years 1-4 Net present value Net Cash Flows X Present Value of Annuity at 9% = Present Value of Net Cash Flows 0.9170 = $ 0