Most Company has an opportunity to invest in one of two new projects. Project Y requires a $345,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $345,000 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. (FV of $1, PV of $1, FVA of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.)

	Project Y					Project Z
Sales		$	365,000				$	320,000
Expenses
Direct materials			51,100					40,000
Direct labor			73,000					48,000
Overhead including depreciation			131,400					144,000
Selling and administrative expenses			26,000					29,000
Total expenses			281,500					261,000
Pretax income			83,500					59,000
Income taxes (38%)			31,730					22,420
Net income		$	51,770				$	36,580

4, Determine each project's net present value using 10% as the discount rate. Assume that cash flows occur at each year-end. (Round your intermediate calculations.) Project Y Chart values are based on: Select chart Amount x PV factor= Present Value Net present value Project Z Chart values are based on: n- Select chart Amount x PV factor= Present Value Net present value