Required information [The following information applies to the questions displayed below.] Project Y requires a $315,000 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 yeac (PV of \$1. EV of \$1. PVA of \$1, and FVA of \$1) (Use appropriate factor(s) from the tables provided.) 2. Determine Project Y's payback period