Required informatio [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 $330,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $330,000 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 Y Project Z $360,000 $288,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses 36,000 43,200 129,600 129,600 26,000 278,000 234,800 53,200 24,60015,960 $57,400 37,240 50,400 72,000 26,000 82,000 Total expenses Pretax income Income taxes (30%) Net income Required: 1. Compute each project's annual expected net cash flows Project Y Project Z 2. Determine each project's payback period. Choose Numerator: Cost of investment Payback Period Choose Denominator: Payback Period Annual net cash flowPayback period Project Y Project Z 330,000I 330,000 / 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 4. Determine each project's net present value using 9% as the discount rate. Assume that cash flows occur at each year-end. (Round your intermediate calculations.) Project Y Chart values are based on: Select Chart Amountx PV FactorPresent Value Net present value Project Z Chart values are based on: Select Chart Amount X PV FactorPresent Value Net present value