Required information [The following information applies to the questions displayed below.] Project Y requires a $309,000 investment for new machinery with a five-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 F V of $1 ) (Use appropriate factor(s) from the tables provided.) 2. Determine Project Y's payback period. 2. Determine Project Y 's payback period