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 four-year life and no salvage value. Project Z requires a $315,000 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 $380,000 $304,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (28%) Net income 53,200 38,000 76,000 45,600 136,800 136,800 27,000 27,000 293,000 247,400 87,000 56,600 24,360 15,848 $ 62,640 $ 40,752 6 of 6 Next Selling and administrative expenses Total expenses Pretax income Income taxes (28%) Net income 27,000 27,000 293,000 247,400 87,000 56,600 24,360 15,848 $ 62,640 $ 40,752 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 X PV Factor Present Value Net present value