Required information [The following information applies to the questions displayed below.] Project Y requires a $304,500 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 ) Note: Use appropriate factor(s) from the tables provided. 2. Determine Project Y 's payback period