Garcia Company can invest in one of two alternative projects. Project Y requires a $420,000 initial investment for new machinery with a four-year life and no salvage value. Project Z requires a $450,000 initial investment for new machinery with a three-year life and no s.blvage value. The two projects yield the following annual results. Cash flows occur evenly within each yeat. (PV of \$1. FV of \$1. PVA of \$1. and EVA of S1) (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 return, which project will it choose? 4. Compute each project's net present value using 8% 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. 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 return, which project will it choose? 4. Compute each project's net present value using 8% 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 flows. 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 paybock 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 return, which project will it choose? 7. Compute each project's net present value using 8% as the discount rate. If the company bases investment decisions solely on net oresent value, which project will it choose? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Compute each project's accounting rate of return. If the company bases investment decisions solely on accounting rate of return, which projer will it choose? which project will it choose? 4. Compute each project's net present value using 8% 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 net present value using 8% as the discount rate. If the company bases investment decisions solely on net present value, which project will it choose? (Do not round intermediate calculations. Round your present value factor to 4 decimals and final answers to the nearest whole dollar.) Table B.1* Present Value of 1 p=1/(1+i)n Table B. 2 Future Value of 1 f=(1+i)n Table B.3Fresent Value of an Annuity of 1 p=[11/(1+i)nyi f={(1+i)n1]/ Vor (n=6,1=8%), the FV factor is 73359.44