apter 24 Quiz Saved Help 1 invora Required information The following information applies to the questions displayed below) Most Company has an opportunity to invest in one of two new projects. Project Y requires a $305,000 investment for new machinery with a five-year life and no salvage value. Project Z requires a $305,000 investment for new machinery with a four-year life and no salvage value. The two projects yield the following predicted annual results. The company uses straight-line depreciation, and cash flows occur evenly throughout each year. (PV of $1. FV of $1. PVA of $1. and EVA of $1 (Use appropriate factor(s) from the tables provided.) Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (328) Bet income Project Y Project 2 $380,000 $304,000 53,200 38,000 76,000 45,600 136, 800 136,800 27,000 27,000 293,000 247.400 87,000 27,840 18,112 $ 59,160 38,488 56,600 Required: 1. Compute each project's annual expected net cash flows. Project Project 2