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 $350,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $350,000 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 FVA of $1) (Use appropriate factor(s) from the tables provided.) Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (30%) Net income Project Y Project $350,000 $280,000 49, 000 35,000 70,000 42,000 126, 000 25,000 270,000 228,000 80,000 52,000 24,000 15.600 $ 56,000 $36,400 126, 000 25,000 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.) 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 Chart values are based on: Select Chart Net present value Project 2 Chart values are based on: Select Chart Net present value n= Amount PV Factor Present Value 0 NO 10 Amount X PV Factor Present Value