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 (408) Net income 56,000 80,000 144,000 29,000 309,000 91,000 36,400 $ 54,600 40,000 48,000 144,000 29,000 261,000 59,000 23,600 $ 35,400 . Determine each project's net present value using 8% as the discount rate. Assume that cash flows occur at each ear-end. (Round your intermediate calculations.) 4. Determine each project's net present value using 8% 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 = 6 Il 8% Amount PV Factor Present Value Select Chart Present Value of an Annuity of 1 $ 0 Present value of cash inflows Present value of cash outflows Net present value Project 2 Chart values are based on: n = 5 = 8% Select Chart Amount PV Factor Present Value $ 0 Present value of cash inflows Present value of cash outflows Net present value