Most Company has an opportunity to invest in one of two new projects. Project Y requires a $330,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $330,000 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.) Sales. Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (36%) Net income Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z Project Y Project 2 $365,000 $292,000 51,100 73,000 131,400 26,000 281,500 83,500 30,060 $ 53,440 36,500 43,800 131,400 26,000 237,700 54,300 19,548 $ 34,752