Project Y requires a $348,000 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	Project Y
Sales of new product	$ 365,000
Expenses
Materials, labor, and overhead (except depreciation)	163,520
DepreciationMachinery	69,600
Selling, general, and administrative expenses	26,000
Income	$ 105,880

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