Project Y requires a $331,500 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.) Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income Project Y $ 380,000 170,240 66,300 27,000 $ 116,460 4. Determine Project Y's net present value using 7% 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.) Years 1-6 Initial investment Net present value $ Answer is complete but not entirely correct. Present Value of Present Value of Net Cash Flows x Annuity at 7% Net Cash Flows 182,760 4.7665 871,126 331,500 S 539,626