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 six-year life and no salvage value. Project Z requires a $330,000 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 Sales Expenses Direct materials $365,000 $292,000 51,100 36,500 Direct labor 73,000 43,800. Overhead including depreciation 131,400 131,400 Selling and administrative expenses 26,000 26,000 Total expenses 281,500 237-700 Pretax income 83,500 54,300 Income taxes (30%) 25,050) 16,290 Net income $ 58,450 $ 38,010 Required: 1. Compute each project's annual expected net cash flows. Project Y Project Z