Project Y requires a $$304,500$ investment for new machinery with a four$-$year life and no salvage value. The project yields the following annual results. Cash flows occur evenly within each year. $($PV of $$1,$ 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 $ $385,000$

Expenses

Materials, labor, and overhead $($except depreciation$)172,480$

Depreciation$$Machinery $76,125$

Selling, general, and administrative expenses $28,000$

Income $ $108,395$