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.) Project Y Project z $365,888 $292,880 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (38%) Net income 51,100 36,500 73, e80 43,800 131,400 131,400 26,000 26,880 281,500 237,700 83,500 54,300 31,730 20,634 $ 51,770 $ 33,666 4. Determine each project's net present value using 7% as the discount rate. Assume that cash flows occur at each year-end. (Round your Intermediate calculations.) Project Y Chart values are based on: n = Select Chart Amount PV Factor Present Value = S 0 Net present value Project 2 Chart values are based on: n = Select Chart Amount PV Factor Present Value = S 0 Net present value