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 four-year life and no salvage value. Project Z requires a $345,000 investment for new machinery with a three-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 S1 PVA of S1, and FVA of $1 (Use appropriate factor(s) from the tables provided.) Project Y Project z $400,000 $320,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (345) Net Income 56.000 80,000 144,000 29,000 309,000 91,000 30,940 $ 60,060 40,000 48,000 144,000 29,000 261.000 59,000 20,06e $ 38,940 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.) 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.) Chec Project Chart values are based on: n = Select Chart Amount X PV Factor Present Value $ Net present value Project z Chart values are based on: n = Select Chart Amount PV Factor Present Value Required information Net present value Project z Chart values are based on: n = Select Chart Amount X PV Factor Present Value S 0 ces Net present value