Norton Manufacturing is considering two alternative investment proposals with the following details: Proposal Y $500,000 4 years Investment Useful lite Estimated annual net cash inflows Residual value Depreciation method Discount rate Proposal X $720,000 5 years $150,000 $50,000 Straight lind 104 $90,000 so Straight-ling What is the total present value of future cash inflows from Proposal X? Present value of annuity of $1: 1 2 3 0.924 1.784 2.577 3.312 3.993 $0.92 1.755 2531 3.24 3.89 4.484 10% 0.909 1.734 2.487 3.17 3.791) 4356 5 6 Present value of $1: 8% 99 0.924 0.917 2. 0.8571 0.84 3 0.794 0.772 0.735 0.700 5 0.681 0.65 6 0.66 0.594 10% 0.909 0.824 0.751 0.683 0.621 0.564