Determine Project Ys payback period.

! Required information [The following information applies to the questions displayed below.] Project Y requires a $350,000 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) (Use appropriate factor(s) from the tables provided.) Annual Amounts Project Y $ 350,000 Sales of new product Expenses 157,500 Materials, labor, and overhead (except depreciation) Depreciation Machinery 87,500 49,000 Selling, general, and administrative expenses Income $ 56,000 Payback Period I Payback period 0 2. Determine Project Y's payback period. Numerator: Project Y Denominator