! 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 $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 $355,000 $284,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (34%) Net income 49,700 71,000 127,800 25,000 273,500 81,500 27,710 $ 53,790 35,500 42,600 127,800 25,000 230,900 53,100 18,054 $ 35,046 Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z