Most Company has an opportunity to invest in one of two new projects. Project Y requires a $325,000 investment for new machinery with a five-year life and no salvage value. Project Z requires a $325,000 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 2 $390,000 $312,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (281) Net income 54,600 39,000 78,000 46,800 140,400 140,400 28,000 28,000 301,000 254,200 89,000 57,800 24,920 16.184 $ 64,080 $ 41,616 Problem 11-2A Part 1 Required: 1. Compute each project's annual expected net cash flows. Project Y Project 2 8 Pra