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Required information [The following information applies to the questions displayed below.] 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 six-year life and no salvage value. Project Z requires a $340,000 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. Fy of $1, PVA of $1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided.) Project Y Project Z $400,000 Sales $320,000 Expenses Direct materials Direct labor 56,000 40,000 48,000 144,000 29,000 80,000 Overhead including depreciation Selling and administrative expenses Total expenses 144,000 29,000 309,000 261,000 Pretax income 59,000 91,000 34,580 Income taxes (38%) 22,420 $ 36,580 Net income 56,420 Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z 2. Determine each project's payback period. Payback Period IChoose Denominator: Choose Numerator: Payback Period Payback period Project Y Project Z 0 3. Compute each project's accounting rate of return. Accounting Rate of Return Accounting Rate of Return Choose Numerator: Choose Denominator: Accounting rate of return Project Y Project Z 0 0 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 = Present Value Select Chart Amount PV Factor X 0 Net present value Project Z Chart values are based on: n = Select Chart Amount PV Factor Present Value X 0 Net present value Required information [The following information applies to the questions displayed below.] 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 six-year life and no salvage value. Project Z requires a $340,000 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. Fy of $1, PVA of $1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided.) Project Y Project Z $400,000 Sales $320,000 Expenses Direct materials Direct labor 56,000 40,000 48,000 144,000 29,000 80,000 Overhead including depreciation Selling and administrative expenses Total expenses 144,000 29,000 309,000 261,000 Pretax income 59,000 91,000 34,580 Income taxes (38%) 22,420 $ 36,580 Net income 56,420 Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z 2. Determine each project's payback period. Payback Period IChoose Denominator: Choose Numerator: Payback Period Payback period Project Y Project Z 0 3. Compute each project's accounting rate of return. Accounting Rate of Return Accounting Rate of Return Choose Numerator: Choose Denominator: Accounting rate of return Project Y Project Z 0 0 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 = Present Value Select Chart Amount PV Factor X 0 Net present value Project Z Chart values are based on: n = Select Chart Amount PV Factor Present Value X 0 Net present value