Required Information Problem 24-2A (Algo) 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 $306,000 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 Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income Project Y $ 375,000 168,000 61,200 27,000 $ 118,800 Problem 24-2A (Algo) Part 4 4. Determine Project Y's net present value using 6% 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 Net present value Net Cash Flows Present Value x of Annuity at 6% Present Value of Net Cash Flows