Most Company has an opportunity to invest in one of two new projects. Project Y requires a $320,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $320,000 investment for new machinery with a three-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 2 $355,000 $284,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (388) Net income 49,700 71,000 127,800 25,000 273,500 81,500 30,970 $ 50,530 35,500 42,600 127,800 25,000 230,900 53,100 20,178 $ 32,922 4. Determine each project's net present value using 8% 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 Net present value Project z Chart values are based on: n Select Chart Amount PV Factor Present Value = Net present value