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 $330,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $330,000 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 $1, PVA of $1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided.) Project Y Project Z $390,000 $312,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (26%) Net income 54,600 78,000 140,400 28,000 301,000 89,000 23, 140 $ 65,860 39,000 46,800 140,400 28,000 254,200 57,800 15,028 42,772 Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z