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 $315,000 investment for new machinery with a five-year life and no salvage value. Project Z requires a $315,000 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.) Project Y Project 2 $395,000 $316,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (328) Net income 55,300 79,000 142,200 28,000 304,500 90,500 28,960 $ 61,540 39,500 47, 400 142,200 28,000 257, 100 58,900 18,848 $ 40,052 4. Determine each project's net present value using 10% as the discount rate. Assume that cash flows occur at each year-end. (Round your intermediate calculations.) Required information Chart values are based on: n = 5 i = 10% Amount Select Chart Present Value of an Annuity of 1 PV Factor Present Value $ 124,540 X = $ 0 Present value of cash inflows Present value of cash outflows Net present value Projec Chart values are based on: n = 4 10% Select Chart Amount PV Factor Present Value $ 118,802 $ 0 Present value of cash inflows Present value of cash outflows O Net present value