Gordon Manufacturing is considering following two investment proposals:

----	Proposal x	Proposal y
Investment	$740,000	$508,000
Useful life	5 Years	4 Years
Estimated annual cash inflows received at end of each year	$154,000	$92,000
Residual Value	$66,000	$0
Depreciation Method	Straight-line	Straight-line
Annual Discount rate	10%	9%

**COMPUTE THE PRESENT VALUE OF THE FUTURE CASH INFLOWS FROM PROPOSAL X. =_________

PV of an ordinary annuity of $1

	8%	9%	10%
1	0.926	0.917	0.909
2	1.783	1.759	1.736
3	2.577	2.531	2.487
4	3.312	3.240	3.170
5	3.993	3.890	3.791
6	4.623	4.486	4.355

PV of $1:

	8%	9%	10%
1	.926	.917	.909
2	.857	.842	.826
3	.794	.772	.751
4	.735	.708	.683
5	.681	.650	.621
6	.630	.596	.564