Most Company has an opportunity to invest in one of two new projects. Project Y requires a $350,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $350,000 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 $1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided.) Part 1 of 4 Project Y Project 2 $380,000 $304,000 1.87 points Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (36) Net income 53,200 76,000 136, 800 27,000 293,000 B7,000 31,320 $ 55,680 38,000 45,600 136,800 27,000 247, 400 56.600 20,376 $ 36,224 eBook Print References Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z