Most Companyr has an opportunity to invest in one of two new projects. Project Y requires a $345,0D0 investment for new machinery with a ve-year life and no salvage value. Project 2 requires a $345,000 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 ows occur evenly throughout each year. [PV gf 5,1, F'U' of $1, PVA gf $1, and FVA of 51 II (Us. appropriate factorial from the tables provided.) Project r .prajeee :2-- Sales $325,999 $399,999 intense: Direct materials 52,599 37,599 Direct labor 25,999 45,999 Overhead including depreciation 135,999 135,999 Selling and albinistr'ative expenses 21,999 2?,999 Total expenses 289,599 244,599 Pretax income 95,599 55,599 Income taxes (265} 22,239 14,459 Net income 5 63,229 5 41,929