Return to question 5 [The following information applies to the questions displayed below. Part 2 of 4 Most Company has an opportunity to invest in one of two new projects. Project Y requires a $300,000 investment for new machinery with a six-year life and no salvage value. Project Z requires a $300,000 investment for new machinery with a 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.) 1 points Project Y Project z $400,000 $320,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (40%) Net income 56,000 80,000 144,000 29,000 309,000 91,000 36,400 $ 54,600 40,000 48,000 144,000 29,000 261,000 59,000 23,600 $ 35,400 2. Determine each project's payback period. X Answer is not complete. Choose Numerator: Cost of investment Payback Period Choose Denominator: Annual net cash flow $ 300,000 Payback Period Payback period 0.00 Project Y Project Z 0