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, 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 $ 380,000 170,240 87,000 27,000 $ 95,760 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 $ 380,000 170,240 87,000 27,000 $ 95,760 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, 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 $ 380,000 170,240 87,000 27,000 $ 95,760 2. Determine Project Y's payback period. Project Y Numerator: Payback Period Denominator: = Payback Period = 3. Compute Project Y's accounting rate of return. Accounting Rate of Return Project Y Numerator: 1 Denominator: = Accounting Rate of Return 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.) Years 1-6 Net present value Present Value Present Value of Net Net Cash Flows x of Annuity at 9% Cash Flows