! Required information [The following information applies to the questions displayed below.] Project Y requires a $324,000 investment for new machinery with a six-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 $ 400,000 179,200 54,000 29,000 $ 137,800 Required: 1. Compute Project Y's annual net cash flows. 2. Determine Project Y's payback period. Project Y Numerator: Payback Period Denominator: = = Payback Period 0