Required information [The following information applies to the questions displayed below.] Project Y requires a $333,000 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, 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 $365,000 163,520 55,500 26,000 $ 119,980 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 Seling, general, and administrative expenses Income Net cash flow Income Cash Flow $ 365,000 163,520 55,500 20,000 $ 119.980