Project Y requires a $318,000 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	$ 380,000
Expenses
Materials, labor, and overhead (except depreciation)	170,240
DepreciationMachinery	79,500
Selling, general, and administrative expenses	27,000
Income	$ 103,260

4. Determine Project Ys net present value using 6% 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.)

\begin{tabular}{|l|l|l|l|l|} \hline & Net Cash Flows & x & PresentValueofAnnuityat6% & =PresentValueofNetCashFlows \\ \hline Years 1-4 & & & $ & 0 \\ \hline & & \\ \hline Net present value & & \\ \hline \end{tabular}