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 $$336,000$ investment for new machinery with a five$-$year life and no salvage value. The project yields the following annual results. Cash flows occur evenly within each year. $($PV of $$1,$ FV of $$1,$ PVA of $$1,$ and FVA of $$1)($Use appropriate factor$($s$)$ from the tables provided.$)$

Annual Amounts Project Y

Sales of new product $ $375,000$

Expenses

Materials, labor, and overhead $($except depreciation$)168,000$

Depreciation$$Machinery $67,200$

Selling, general, and administrative expenses $27,000$

Income $ $112,800$

Problem $24-2$A $($Algo$)$ Part $1$

Required:

$1.$ Compute Project Y$$s annual net cash flows.