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Garcia Company can invest in one of two alternative projects. Project Y requires a $ 4 8 0 , 0 0 0 initial investment for

Garcia Company can invest in one of two alternative projects. Project Y requires a $480,000 initial investment for new machinery with a four-year life and no salvage value. Project Z requires a $468,000 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 provided.)
\table[[Annual Amounts,Project Y,Project Z],[Sales of new product,$460,000,$560,000
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