Required Information Problem 11-2A (Static) Payback period, accounting rate of return, net present value, and net cash flow calculation LO P1, P2, P3 [The following information applies to the questions displayed below] 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 Project Y Sales of new product $ 350, 080 Expenses Materials, labor, and overhead (except depreciation) 157, 580 Depreciation-Machinery 87, 580 Selling, general, and administrative expenses 49, 090 Income $ 56, 080 Problem 11-2A (Static) Part 2 2. Determine Project Y's payback period. Payback Period Numerator: Denominator: Payback period Project Y E 0