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 $340,000 Investment for new machinery with a six-year life and no salvage value. Project Z requires a $340,000 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. EV of $1. PVA of $1, and EVA of $1 ) (Use appropriate factor(s) from the tables provided.) Project Y Project $385,000 $300,000 Sales Expenses Direct materials I 53,900 38,500 Direct labor 77,000 46,200 Overhead including depreciation 138,600 138,600 Selling and administrative expenses 28,000 27,000 Total axpenses 297,500 250,300 Pretax income 87,500 57.700 Income taxes (20) 24,500 16,156 Net income 63,000 41,5441 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 your intermed calculations.) Project Y Chart values are based on: Select Chart Present Value of an Annuity of 1 Present value of cash inflows Present value of cash outflows Net present value Project Z Chart values are based on: Select Chart Present Value of an Annuity of 1 Present value of cash inflows Present value of cash outflows Not present value in 8% Amount PV Factor Present Value $ 119.667x $ 0 5 8% Amount X PV Factor Present Value 109,544x $