Please make sure the values in your answer are correct.

Required information [The following information applies to the questions displayed below.) Project Y requires a $307,500 investment for new machinery with a six-year life and no salvage value. The project yields Y 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.) Project Y $ 390,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 174,720 51, 250 28,000 $ 136,030 Required: 1. Compute Project Y's annual net cash flows. Annual amounts Income Cash Flow $ 390,000 Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation Machinery Selling, general, and administrative expenses 174,720 51,250 28,000 Income $ 136,030 Net cash flow 2. Determine Project Y's payback period. Payback Period Numerator: 1 Denominator: Payback Period Project Y 0 3. Compute Project Y's accounting rate of return. Accounting Rate of Return Numerator: 1 Denominator: / Accounting Rate of Return Project Y 4. Determine Project Y's net present value using 8% as the discount rate. (Do not round intermediate calculations. Round your present value factor to 4 decimals and final answers to the nearest whole dollar.) Net Cash Flows Present Value of Annuity at 8% Present Value of Net Cash Flows Years 1-6 - Net present value