Required information [The following information applies to the questions displayed below.] Project Y requires a $324,000 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. EV of $1. PVA of $1. and EVA 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 $ 350,000 156,800 64,800 25,000 $103,400 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 $ 350,000 156,800 64,800 25,000 $ 103,400 Check 2. Determine Project Y's payback period. Project Y Payback Period Numerator: Denominator: Payback Period 3. Compute Project Y's accounting rate of return. Project Y Numerator: Accounting Rate of Return Denominator: Accounting Rate of Return: 4. Determine Project Y's net present value using 9% as the discount rate. (Do not round intermediate calculations. Roun present value factor to 4 decimals and final answers to the nearest whole dollar.) Years 1-5 Net present value Present Value Net Cash Flows x of Annuity at 9% Present Value of Net Cash Flows