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 $305,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $305,000 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. FV of $1 PVA of $i, and FVA of $D) (Use appropriate factor(s) from the tables provided.) Project Y Project z Sales $385,000 $308,000 Expenses Direct materials 53,900 38,500 Direct labor 77,000 46,200 Overhead including depreciation 138,6ee 138,600 Selling and administrative expenses 28, eee 27,eee Total expenses 297,500 250, 30e 57,700 Income taxes (32%) 28,eee 18,464 Net income $ 59,500 $ 39,236 Pretax income 87,5ee 3. Compute each project's accounting rate of return, Accounting Rate of Return Choose Denominator: Choose Numerator: Accounting Rate of Return Accounting rate of return 0 Project Y Project Z 0