Project Y requires a $343,500 investment for new machinery with a five-year life and no salvage value.

! Required information [The following information applies to the questions displayed below.) Project Y requires a $343,500 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.) Project Y $ 395,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 176,960 68,700 28,000 $ 121,340 Required: 1. Compute Project Y's annual net cash flows. Expected Income Revenues Expenses Expected Net Cash Flow Net cash flow 2. Determine Project Y's payback period. Payback Period Numerator: 1 Denominator: / = Payback Period Project Y 0 3. Compute Project Y's accounting rate of return. Accounting Rate of Return Numerator: 1 Denominator: 1 Accounting Rate of Return Project Y 4. Determine Project Y's 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.) Project Y Chart values are based on: n = i = Select Chart Amount PV Factor Present Value Net present value