2 Determine each project's payback perlod. Required information [The following information applles to the questions allsplayed below.] Most Company has an opportunity to Invest in one of two new projects. Project Y requires a $340,000 Investment for new machinery with a four-year life and no salvage value. Project Z requires a $340,000 Investment for new machinery with a three-year life and no salvage value. The two projects yleld the following predicted annual results. The company uses stralght-Ine depreclatlon, and cash flows occur evenly throughout each year. (PV of \$1. FV of \$1, PVA of \$1, and FVA of \$11) (Use appropriate factor(s) from the tables provided.) Required: 1. Compute each project's annual expected net cash flows. 3. Compute each project's accounting rate of return. 4. Determine each prolect's net present value using 6% as the discount rate. Assume that cash flows occur at each yeare