Project Y requires a $350,000 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 Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income Project Y $ 350,000 157,500 87,500 49,000 $ 56,000 Problem 11-2A (Static) Part 2 2. Determine Project Y's payback period. Project Y Payback Period Numerator: I Denominator: = Payback period = 3. Compute Project Y's accounting rate of return. Project Y Numerator: Accounting Rate of Return Denominator: = Accounting rate of return 0 4. Determine Project Y's net present value using 8% 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 1-4 Net present value Present Value Net Cash Flows of Annuity at Present Value of Net Cash Flows 8% = $ 0