Required information [The following information applies to the questions displayed below.) Project Y requires a $310,500 investment for new machinery with a six-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 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 51,750 25,000 $ 116,450 4. Determine Project Y's net present value using 6% 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 1-61 Net present value Net Cash Flows Present Value of Annuity at 6% Present Value of Net Cash Flows