Required information (The following information applies to the questions displayed below.) 4 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 five-year life and no salvage value. Project Z requires a $340,000 investment for new machinery with a four-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.) Part 1 of 3 2 Project Y Project z $385,000 $308,000 points 8 00:52:22 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (368) Net income 53,900 77,000 138,600 28,000 297,500 87,500 31,500 $ 56,000 38,500 46,200 138,600 27,000 250, 300 57, 700 20,772 $ 36,928 eBook Required: 1. Compute each project's annual expected net cash flows. Project Y Project z