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 $345,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $345,000 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 $380,000 $304,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (36%) Net income 53,200 76,000 136,800 27,000 293,000 87,000 31, 320 $ 55, 680 38,000 45,600 136,800 27,000 247,400 56,600 20, 376 $ 36,224 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: n = = Select Chart Amount PV Factor Present Value $ 0 Net present value Project Z Chart values are based on: n = Select Chart Amount x PV Factor Present Value $ 0 Net present value