Most Company has an opportunity to invest in one of two new projects. Project Y requires a $305,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $305,000 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.) rojeC rojec Sales Expenses $360,000 $288,000 Direct materials Direct labor Overhead including depreciation Selling and administrative expenses 50,400 36,000 43,200 129,600 129,600 26,000 278,000 234, 800 53,200 20,216 $ 50,840 32,984 72,000 26,000 82,000 Total expenses Pretax income Income taxes (38%) Net income 31,160