Nylan Manufacturing is considering two alternative investment proposals with the following details:

Proposal X Proposal Y

Investment 720,000 500,000

Useful life 5 years 4 years

Estimated annual net cash flows 150,000 90,000

Residual value 50,000 0

depreciation method straight-line straight-line

discount rate 10% 9%

what is the total present value of future cash inflows from proposal Y?

Present value of annuity of $1