Required information [The following information applies to the questions displayed below.] Project Y requires a $333,000 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) Note: 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 $ 375,000 168,000 83,250 27,000 $ 96,750 4. Determine Project Y's net present value using 9% as the discount rate. Note: Do not round intermediate calculations. Round your present value factor to 4 decimals and final answers to the nearest whole dollar. Years 1-4 Initial investment Net present value $ Present Value Net Cash Flows x of Annuity at 180,000 x 9% Present Value of Net Cash Flows = $ 0 333,000