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 $320,000 investment for new machinery with a five-year life and no salvage value. Project Z requires a $320,000 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. EV_01S1. PVA of $1. and FVA of $1 (Use appropriate factor(s) from the tables provided.) Project Y Project 2 $360,000 $288,000 Sales Expenses Direct materials Direct labor overhend including depreciation Selling and administrative expenses Total expenses Pretax income Income taxen (26) Net Income 50,400 72,000 129,600 26.000 278,000 82,000 21,320 $ 60,680 36,000 43,200 129,600 26,000 234,800 53,200 13,832 $ 39,368 3. Compute each project's accounting rate of return Accounting Rate of Return Choose Numerator: Choose Donominator: Accounting Rate of Retum Accounting rate of return 0 Project Y Project 2