[The following information applies to the questions displayed below.] Project Y requires a $346,500 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 EVA of $1) Note: Use appropriate factor(s) from the tables provided. Annual Amounts Project Y Sales of new product $ 380,000 Expenses Materials, labor, and overhead (except depreciation) 170, 240 Depreciation-Machinery 57, 750 Selling, general, and administrative expenses 27,000 Income $ 125, 010 Required: 1. Compute Project Y's annual net cash flows. Annual amounts Income Cash Flow Sales of new product $ 380,000 $ 182,760 Expenses Materials, labor, and overhead (except depreciation) 170,240 170,240 Depreciation-Machinery 57,750 57,750 Selling, general, and administrative expenses 27,000 27,000 Income $ 125,010 Net cash flow $ (72,230)