Confused on Part 1 and Part 2 of the question. information for both questions is the same. please help!!

Required information [The following information applies to the questions displayed below] Project Y requires a $318,000 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 EVA of \$1) (Use appropriate factor(s) from the tables provided.) Required: 1. Compute Project Y 's annual net cash flows. Required: 1. Compute Project Y's annual net cash flows. 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.) 2. Determine Project Y's payback period