Most Company has an opportunity to invest in one of two new projects. Project Y requires a $340,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $340,000 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. (FV of $1, PV of $1, EVA of $1 and PVA of (Use appropriate factor(s) from the tables provided.) Project Y Project Z 370,000 296,000 Sales Expenses 37,000 51,800 Direct materials 44,400 74,000 Direct labor Overhead including depreciation 133,200 133,200 26,000 26,000 Selling and administrative expenses Total expenses 285,000 240,600 85,000 55,400 Pretax income Income taxes (30%) 16,620 25,500 59,500 38,780 Net income