Required information [The following information applies to the questions displayed below.) Project Y requires a $306,000 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) (Use appropriate factor(s) from the tables provided.) Project $365,000 Annual Amounts Sales of new product Expenses Materiala, labor, and overhead (except depreciation) Depreciation Machinery Selling, general, and administrative expenses Income 163,520 51,000 26,000 $ 124,480 3. Compute Project Y's accounting rate of return. Accounting Rate of Return Numerator: Denominator: Accounting Rate of Return Project