Help me check my work! 4 parts

Garcia Company can invest 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 $1. PVA of $1, and FVA of S1) (Use appropriate factor(s) from the tables provided.) Annual Amounts Project Y Project 2 Sales of new product $475,000 $ 440,00 Expenses Materials, labor, and overhead (except depreciation) 220, eee 200,00 Depreciation Machinery 106,250 154,000 Selling, general, and administrative expenses 61,000 50,000 Income $ 87,750 $36, eee 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 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 6% as the discount rate. If the company bases Investment decisions solely on net present value, which project will it choose? Required 1 Required 2 Required 3 Required 4 Compute each project's annual net cash flows. Annual Amounts Project Y Income Cash Flow 475,000 $ 475,000 Projectz Income Cash Flow $ Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation Machinery Selling, general, and administrative expenses Income Net cash flow 220,000 106,250 61,000 87,750 200,000 154,000 50,000 $ (404,000) 475,000 Rond 1 Required 2 > Required 1 Required 2 Required 3 Required 4 Compute each project's payback period. If the company bases investment decisions solely on payback period, which project will it choose? Payback Period Numeraton Denominator Payback period Projedy Proiedz of the company bases investment, decision tolely on payback period, which project will it choose? 0 Compute each project's accounting rate of return. If the company bases investment dedsions solely on accounting rate of return, which project will it choose? Numerator: Accounting Rate of Return Denominator: Accounting rate of return 0 Project Y Project 2 If the company bases investment decisions sy on accounting rate of return which project will choose? 0 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? (Do not round intermediate calculations. Round your present value factor to 4 decimals and final answers to the nearest whole dollar.) Present Value Project Y Net Cash Flows of Annuity at - Present Value of Net Cash Flows Years 1-4 6% Net present value Project z Present Value Net Cash Flows X of Annuity at 6% Present Value of Net Cash Flows Years 1-3 $ 0 Net present value if the company bases investment decisions solely on net present value, which project will it choose