CH 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 $345,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $345,000 investment for new machinery with a three-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 S1, and EVA 051 ) (Use appropriate factor(s) from the tables provided.) Project Y Project 2 Sales $400,000 $320,000 Expenses Direct materials 56,000 40,000 Direct labor 30,000 Overhead including depreciation 144,000 144,000 Selling and administrative expenses 29,000 29.000 Total expenses 309,000 261.000 Pretax income 91,000 59,000 Income taxes (34%) 30,940 20.060 Net Income $ 60,060 $ 38,940 3. Compute each project's accounting rate of return Project Y Project z $400,000 $320,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (34%) Net income 56,000 40,000 80,000 48,000 144,000 144,000 29,000 29,000 309,000 261,000 91,899 59,00 30,940 20,060 $ 60,060 $ 38,940 3. Compute each project's accounting rate of return Choose Numerator: Accounting Rate of Return Choose Denominator: Accounting Rate of Return Accounting rate of return Project Y Project 2 0