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 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 S1, and EVA 01:51 ) (Use appropriate factor(s) from the tables provided.) Project Y Project % Sales $360,000 $280,000 Expenses Direct materiale 50,400 36,000 Direct labor 72,000 43,200 overhead including depreciation 129,600 129,600 Selling and administrative expenson 26,000 26,000 Total expenses 278,000 234,800 Pretax income 82,000 Income taxes (268) 21,320 13,832 Net income $ 39,368 53,200 $ 60,680 4. Determine each project's net present value using 9% 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 Project Y Chart values are based on: n Amount Select Chart X PV Factor Present Value $ 0 Net present value Project 2 Chart values are based on: n. i- Amount PV Factor Select Chart Prosent Value $ 0 Net present value