applies to the questions displayed below.) Project Y requires a $319,500 investment for new machinery with a five-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 $375,000 168,000 63,900 27,000 $116,100 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 Cash Flow $ 375,000 $ 375.000 168,000 168.000 63.900 0 27.000 27,000 Materiais, labor, and overnead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 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 63,900 27,000 $ 116,1001 Income Cash Flow S 375,000 $ 375.000 168,000 168.000 63.900 0 27,000 27,000 $ 116,100 $ 180,000 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 $ 375,000 168,000 63,900 27,000 $ 116,100 2. Determine Project Y's payback period Project Y Numerator: Payback Period Denominator: Payback Period 0 Accounts receivable Annual net cash flow Average total assets Cost of goods sold Depreciation-Machinery Selling, general, and administrative expenses Income 63,900 27,000 $ 116,100 3. Compute Project Y's accounting rate of return. Numerator: Accounting Rate of Return Denominator: Project Y Accounts receivable Annual income Average investment Average total assets Accounting Rate of Return 0 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 1-5 Net present value Present Value Present Value of Net Net Cash Flows of Annuity at 9% Cash Flows