Project Y requires a $309,000 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, 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	$ 365,000
Expenses
Materials, labor, and overhead (except depreciation)	163,520
DepreciationMachinery	77,250
Selling, general, and administrative expenses	26,000
Income	$ 98,230

Required: 1. Compute Project Ys annual net cash flows.

2. Determine Project Ys payback period.

3. Compute Project Ys accounting rate of return.

4. Determine Project Ys net present value using 9% 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.)