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 $1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided.) Required: 1. Compute each project's annual expected net cash flows. 2. Determine each project's payback period. 3. Compute each project's accounting rate of return. Compute the internal rate of return for each of the projects using Excel functions. Based on internal rate of return, indicate whether each project is acceptable. (Round your answers to 2 decimal places.) 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 $1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided.) Required: 1. Compute each project's annual expected net cash flows. 2. Determine each project's payback period. 3. Compute each project's accounting rate of return. Compute the internal rate of return for each of the projects using Excel functions. Based on internal rate of return, indicate whether each project is acceptable. (Round your answers to 2 decimal places.)