Stellan Manufacturing is considering the following two investment proposals: Investment Useful life Estimated annual net cash inows received at the end of each year Residual value Depreciation method Annual discount rate Proposal X $730,000 5 years $1 56,000 $50,000 Straight - line 10% Proposal Y $504,000 4 years $100,000 $0 Straight - line 9% Compute the present value of the future cash inows from Proposal Y. Present value of an ordinary annuity of $1: 8% 9% 10% 1 0.926 0.917 0.909 2 1.783 1.759 1.736 3 2.577 2.531 2.487 4 3.312 3.240 3.170 5 3.993 3.809 3.791 6 4.623 4.486 4.355