! Required information (The following information applies to the questions displayed below.) Project Y requires a $306,000 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.) Project Y $ 390,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation Machinery Selling, general, and administrative expenses Income 174, 720 76,500 28,000 $ 110,780 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.) Net Cash Flows X Present Value of Annuity at 6% Present Value of Net Cash Flows Years 1-6 $ 187,280X $ 0 Initial investment (306,000) Net present value