Required information (The following information applies to the questions displayed below) Project Y requires a $300,000 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 S1, FV of S1, PVA of $1, and FVA of $.1) (Use appropriate factor(s) from the tables provided.) Project Sales of new product $ 395,000 Expenses Materials, labor, and overhead (except depreciation) 176.960 Depreciation-Machinery 50,000 Selling, general, and administrative expenses 28,000 $ 140,040 Annual Amounts Income Required: 1. Compute Project Y's annual net cash flows Cash Flow Income 395,000 $ Annual amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation Machinery Selling general, and administrative expenses Income Net cash flow 176,960 50,000 28.000 140,040 $ 0 Required information [The following information applies to the questions displayed below.) Project Y requires a $300,000 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 Project Sales of new product $ 395,000 Expenses Materials, labor, and overhead (except depreciation) 176,960 Depreciation-Machinery 50,000 Selling, general, and administrative expenses 28.000 $ 140,040 Income 2. Determine Project Y's payback period. Numerator: Payback Period Denominator: Project Y Payback Period