Most Company has an opportunity to invest in one of two new projects. Project Y requires a $300,000 Investment for new machinery with a five-year life and no salvage value. Project Z requires a $300,000 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 $t, and FVA of 5! (Use appropriate factors from the tables provided.) Project Y Project Z $390,000 $312,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (38%) Net Income 54,600 78,800 140,480 28,888 301,800 89,880 33,820 $ 55,180 39,000 46,800 140,480 28,800 254,200 57,800 21,964 $ 35,836 Problem 24-2A Part 1 Required: 1. Compute each project's annual expected net cash flows Project Y Project