Required information [The following information applies to the questions displayed below.] Project Y requires a $336,000 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) (Use appropriate factor(s) from the tables provided.) Annual Amounts Project Y Sales of new product $ 395, 000 Expenses Materials, labor, and overhead (except depreciation) 176, 960 Depreciation-Machinery 84, 000 Selling, general, and administrative expenses 28 , 000 Income $ 106, 040 Required: 1. Compute Project Y's annual net cash flows. Annual amounts Income Cash Flow Sales of new product $ 395,000 Expenses Materials, labor, and overhead (except depreciation) 176,960 Depreciation-Machinery 84,000 Selling, general, and administrative expenses 28,000 Income $ 106,040 Net cash flow $ 0