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Project Y requires a $319,500 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)

Note: Use appropriate factor(s) from the tables provided.

Annual Amounts	Project Y
Sales of new product	$ 395,000
Expenses
Materials, labor, and overhead (except depreciation)	176,960
DepreciationMachinery	79,875
Selling, general, and administrative expenses	28,000
Income	$ 110,165

4. Determine Project Ys net present value using 6% 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.

	Net Cash Flows	x	Present Value of Annuity at 6%	=	Present Value of Net Cash Flows
Years 1-4				=	$0
Net present value