Required information [The following information applies to the questions displayed below.] Project Y requires a $342,000 investment for new machinery with a five-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 $ 365,000 163,520 68,400 26,000 $ 107,080 Required: 1. Compute Project Y's annual net cash flows. Expected Income Revenues Expenses Expected Net Cash Flow 0 Net cash flow 0 2. Determine Project Y's payback period. Project Y Payback Period Numerator: I Denominator: 1 = Payback Period = 0 3. Compute Project Y's accounting rate of return. Accounting Rate of Return Project Y Numerator: Denominator: = Accounting Rate of Return 4. Determine Project Y's net present value using 7% 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.) Project Y Chart values are based on: Select Chart Net present value n = =| Amount x PV Factor = Present Value = $ 0