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 four-year life and no salvage value. Project Z requires a $305.000 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 $395,eee $316,eee Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (30%) Net income 55,300 79,800 142,200 28, see 304,500 90,500 27, 150 $ 63, 350 39,5ee 47,480 142,280 28,888 257, 189 58,900 17,670 $ 41,230 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.) Answer is not complete. Project Y Chart values are based on: i = 8% Amount PV Factor Present Value Select Chart Present Value of an Annuity of 1 IS 139.600 IS 0 Present value of cash inflows Present value of cash outflows Net present value OC 305,000 Project Z Chart values are based on: 896 PV Factor Present Value Select Chart Present Value of an Annuity of 1 Amount 142,897 IS X = IS 0 Present value of cash inflows Present value of cash outflows >> 305,000 Net present value