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 $335,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $335,000 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 St, and EVA of S1 ) (Use appropriate factor(s) from the tables provided.) Project Project Sales $380,000 $304,000 Expenses Direct materials 53,200 38,000 Direct labor 76,000 45,600 Overhead including depreciation 136,800 136,800 Selling and administrative expenses 27,00 27,000 Total expenses 247.400 Pretax income 87.000 56,600 Income taxes (32%) 27,840 Net income $ 59,160 $ 38,488 293,000 18,112 3. Compute each project's accounting rate of return. Accounting Rate of Return Choose Numerator: Choose Denominator Accounting Rate of Return Accounting rate of return 0 Project Y Project 2