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 $345,000 Investment for new machinery with a four-year life and no salvage value. Project Z requires a $345.000 Investment for new machinery with a three-year life and no salvage value. The two projects yleld 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 $375,000 $380,880 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (38%) Net income 52,500 75,000 135,890 27,880 289,582 85,500 32,492 $ 53,010 37,500 45,800 135,800 27,880 244,500 55,500 21,899 $ 34,410 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 Amount * PV Factor = Present Value Net present value Project z Chart values are based on: Select Chart Amount X PV Factor = Present Value