[The following information applies to the questions displayed below.] Project Y requires a $301,500 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.) Annual Amounts Project Y Sales of new product $ 355,000 Expenses Materials, labor, and overhead (except depreciation) 159,040 DepreciationMachinery 50,250 Selling, general, and administrative expenses 25,000 Income $ 120,710 3. Compute Project Ys accounting rate of return.