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 S1, PVA of S1, ad FVA of S1) (Use appropriate factor(s) from the tables provided.) Project Y Project Z 385,000 335.000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses 53,900 77,000 138,600 28,000 41,875 50,250 150,750 30,000 Total expenses 297,500 272,875 Pretax income Income taxes (34%) 87,500 29,750 62,125 21,123 Net income $ 57,750 $ 41,002