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 $300,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $300,000 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 2 $ 400,000 $320,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (40%) Net income 56,000 40,000 80,000 48,000 144,000 144,000 29,000 29,000 309,000 261,000 91,000 59,000 36,400 23,600 $ 54,600 $ 35,400 Required: 1. Compute each project's annual expected net cash flows. Project Y Project z