Norton Manufacturing Is Considering the Following Two Investment Proposals Compute the Present Value of the Future Cash Inflows from

Norton Manufacturing is considering the following two investment proposals: $$\begin{array} { | l | r | r | } \hline & \text { Proposal X } & \text { Proposal } \mathbf { Y } \\\hline \text { Investment } & \$ 732,000 & \$ 500,000 \\\hline \text { Useful life } & 5 \text { years } & 4 \text { years } \\\hline \text { Estimated annual net cash inflows received } & & \\\text { at the end of each year } & \$ 152,000 & \$ 108,000 \\\hline \text { Residual value } & \$ 60,000 & \$ 0 \\\hline \text { Depreciation method } & \text { Straight-line } & \text { Straight-line } \\\hline \text { Annual discount rate } & 10 \% & 9 \% \\\hline\end{array}$$ Compute the present value of the future cash inflows from Proposal Y.
Present value of an ordinary annuity of $1:
$$\begin{array} { | l | r | r | r | } \hline & { 8 \% } &{ 9 \% } & 10 \% \\\hline 1 & 0.926 & 0.917 & 0.909 \\\hline 2 & 1.783 & 1.759 & 1.736 \\\hline 3 & 2.577 & 2.531 & 2.487 \\\hline 4 & 3.312 & 3.240 & 3.170 \\\hline 5 & 3.993 & 3.809 & 3.791 \\\hline 6 & 4.623 & 4.486 & 4.355 \\\hline\end{array}$$

A) $266,750
B) $349,920
C) $290,000
D) $250,000