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 $325,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $325,000 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. EV of $1. PVA of $1, and EVA of $1 ) (Use appropriate factor(s) from the tables provided.) Project Y Project z $380,000 Sales $304,000 Expenses Direct materials 53,200 76,000 136,800 27,000 293,000 87,000 27,840 38,000 45,600 136,800 Direct labor Overhead ineluding depreciation Selling and adminiatrative expenses Total expenses Pretax income Income taxes (328) 27,000 247,400 56,600 18,112 s 59,160 et income S 38,488 Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z