! Required information [The following information applies to the questions displayed below.] Project Y requires a $346,500 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 $ 355,000 159,040 57,750 25,000 $ 113,210 4. Determine Project Y's net present value using 9% 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.) Net Cash Flows Present Value x of Annuity at 9% Present Value of Net Cash Flows Years 1-6 $ 170,960 x 4.4859= $ 766,909 Present value of cash inflows Net present value