Most Company has an opportunity to invest in one of two new projects. Project Y requires a $335.000 investment for new e and no salvage value. Project Z requires a $335.000 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 z $400,000 $320,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (36%) Net income 56.999 80,000 144.99 29,00 3e9.ese 91,890 32.760 $ 58,249 49.99 48. 144.99 29,000 261,099 59,990 21,240 $ 37,760 Problem 24-2A Part 1 Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z 2. Determine each project's payback period. Payback Period Choose Numerator: 7 Choose Denominator: = Payback Period Payback period Project Y Project Z 3. Compute each project's accounting rate of return. Accounting Rate of Return 1 Choose Denominator: Choose Numerator: = Accounting Rate of Return Accounting rate of return = Project Project Z 4. Determine each project's net present value using 6% as the discount rate. Assume that cash flows occur at each year-end. (Round your Intermediate calculations.) Project Y Chart values are based on: Select Chart Amount X PV Factor = Present Value Net present value Project z Chart values are based on: i = Select Chart Amount X PV Factor = Present Value Net present value