Garcia Company can imvest in one of two alternative projects. Project Y requires a $425,000 initial investment for new machinery with a four-year life and no salvage value. Project Z requires a $462,000 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 S1, PVA of S1. and PVA of S1) Note: Use appropriate factor(s) from the tables provided. Required: 1. Compute each project's annual net cash flows. 2. Compute each project's payback period. If the company bases investment decisions solely on payback period, which project will it choose? 3. Compute each project's accounting rate of return. If the company bases investment decisions solely on accounting rate of refurn. which project will it choose? 4. Compute each project's net present value using 6% as the discount rate. If the company bases investment decisions solely on net present value, which project will it choose? Complete this question by entering your answers in the tabs below. Compute each project's annual net cash nows