Most Company has an opportunity to invest in one of two new projects. Project Y requires a $335,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $335,000 investment for new machinery with a five-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 S1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided.) Project Y Project z $375,000 $300,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (36%) Net income 52,500 37,500 75,000 45,000 135,000 135,000 27,000 27,000 289,500 244,500 85,500 55,500 30.780 19,980 $ 54,720 $ 35,520 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: 8% Amount 110,553 x PV Factor Select Chart [Present Value of an Annuity of 1 Present Value S 0 Present value of cash inflows Present value of cash outflows (335.000)