Problem $24-2$A $($Algo$)$ Payback period, accounting rate of return, net present value, and net cash flow calculation LO P$1,$ P$2,$ P$3$

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Project $Y$ requires a $$349,500$ investment for new machinery with a five$-$year life and no salvage value. The project yields the following annual results. Cash flows occur evenly within each year. $(PV$ of $$1,FV$ of $$1,$PVA of $$1,$ and FVA of $$1)($Use appropriate factor$($s$)$ from the tables provided.$)$

$\backslash$table$[[$Annual Amounts,Project Y$],[$Sales of new product,$$390,000$