Problem 11-2A (Static) Payback period, accounting rate of return, net present value, and net cash flow calculation LO P1, P2, P3 [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. EV of \$1. PVA of \$1, and FVA of \$1) (Use appropriate factor(s) from the tables provided.) 2. Determine Project Y's payback period. Answer is complete but not entirely correct. 3. Compute Project Y's accounting rate of return