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 six-year life and no salvage value. Project Z requires a $315,000 investment for new machinery with five-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 $360,000 $288,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (36%) Net income 36,000 43,200 129,600 26,000 50,400 72,000 129,600 26,000 278,000 82,000 29,520 $ 52,480 234,800 53,200 19,152 $ 34,048 4. Determine each project's net present value using 7% as the discount rate. Assume that cash flows occur at each year-end. (Round your intermediate calculations.) Project Y Chart values are based on: n- Select Chart Amount PV Factor Present Value .Net.present.value Total expenses Pretax income Income taxes (36%) Net income 278,000 82,000 29,520 $ 52,480 234,800 53,200 19,152 $ 34,048 4. Determine each project's net present value using 7% as the discount rate. Assume that cash flows occur at each year-end. (R your intermediate calculations.) Project Y Chart values are based on: no i = Select Chart Amount x PV Factor Present Value Net present value Project Z Chart values are based on: n = = Select Chart Amount PV Factor Present Value Net present value