Problem 24-2A Analyzing and computing payback period, accounting rate of return, and net present value LO P1, P2, P3 [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 $310,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $310,000 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. FV of $1. PVA of $1. and FVA of $1 (Use appropriate factor(s) from the tables provided.) Project X Project $390,000 $312,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (404) Net income 54,600 78.000 140,400 28,000 301,000 89,000 35,600 $ 53,400 39,000 46,800 140,400 28,000 254,200 57,800 23, 120 $ 34, 680 Project Y Chart values are based on: n = 6 = 9% Select Chart Amount X PV Factor Prosent Value Present Value of 1 $ $ 0 Net present value Project Z Chart values are based on: no 5 9% Select Chart Amount X PV Factor Present Value 0 Net present value