Problem 24-3A (Algo) Applying payback period, accounting rate of return, and net present value LO P1, P2, P3 Garcis Company can Invest in one of two alternative projects. Project Y requires a $560,000 initial investment for new machinery with a four-year life and no salvage value, Project Z requires a $516,000 initial investment for new machinery with a three-year life and no 51. and BA of St) (Use appropriate factor(s) from the tables provided.) Required: 1. Compute each projects annual net cash flows. 2 Compute eoch projects payback period. If the company bases imvestment decisions solely on payback period, which project will it choose? 3. Compute each projects accounting rate of return. If the company bases investment decisions solely on accounting rate of retum, which project will it choose? 4. Compute each project's net present value using 6% as the discount rate. If the company bases investment decisions solely on net precant value, which prolect will it choose? Complete this question by entering your answers in the tabs below. Compute each profect's annual net cash flows. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Compute each project's accounting rate of return. If the company bases investment decisions solely on accounting rate of retum, which will it choose? Compute each project's net present value using 6% as the discount rate. If the company bases investment decisions solely on net present value, which project will it choose? (Do not round intermediate calculations. Round your present value foctor to 4 decimals and final answers to the nearest whole dollar)