Garca Company can invest in one of two alternative projects. Project Y requires a $460,000 initial investment for new machinery with a four-year life and no salvage value. Project Z requires a $456,000 initial investment for new machinery with a three-year life and no salvage value. The two projects yield the following annual results. Cash flows occur evenly within each year. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables