Just need #4 answered please.

! Required information (The following information applies to the questions displayed below.] Most Company has an opportunity to invest in one of two new projects. Project Y requires a $340,000 investment for new machinery with a five-year life and no salvage value. Project Z requires a $340,000 investment for new machinery with a four-year life and no salvage value. The two projects yield the following predicted annual results. The company uses straight-line depreciation, and cash flows occur evenly throughout each year. (PV of $1, FV of $1, PVA of $1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided.) Project Y Project z $360,000 $288,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (36%) Net income 50,400 72,000 129,600 26,000 278,000 82,000 29,520 $ 52,480 36,000 43,200 129,600 26,000 234,800 53,200 19,152 $ 34,048 Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z $ 52,480 $ 34,048 Net income Depreciation expense 68,000 85,000 Expected net cash flows $ 120,480 $ 119,048 2. Determine each project's payback period. Payback Period Choose Numerator: / Choose Denominator: Payback Period Payback period Cost of investment | Annual net cash flow II $ = 2.82 years Project Y Project Z 340,000 $ 340,000 1 $ 120,480 119,048 = 2.86 years 3. Compute each project's accounting rate of return. Accounting Rate of Return Choose Numerator: / Choose Denominator: Accounting Rate of Return Annual after-tax net income 1 Accounting rate of return Annual average investment 170,000 $ II 30.9 % Project Y Project Z 52,480 34,0481 $ $ 170,000 = 20.0 % 4. Determine each project's net present value using 8% as the discount rate. Assume that cash flows occur at each year-end. (Round your intermediate calculations.) Project Y Chart values are based on: n i = Select Chart Amount PV Factor = Present Value Present Value of an Annuity of 1 $ 0 Net present value Project 2 Chart values are based on: i = Select Chart Amount PV Factor Present Value Present Value of an Annuity of 1 $ Net present value