Required information [The following information applies to the questions displayed below.] Project Y requires a $348,000 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. EV of $1 PVA of $1, and EVA of S1) (Use appropriate factor(s) from the tables provided.) Annual Anounts 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 87,000 25,000 $83,960 Required: 1. Compute Project Y's annual net cash flows. Annual amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income Net cash flow Income Cash Flow $ 355,000 159,040 87.000 25,000 $ 83.960 (25,000)