REVUE [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 $350,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $350,000 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 $350,000 $280,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (30%) Net Income 49,000 70,000 126,000 25.000 270,880 80, 24,000 $ 56,000 35,000 42,eee 126,000 25,000 228,000 52,000 15,600 $ 36,400 3. Compute each project's accounting rate of return. Choose Numerator: 'Annual after-tax net income Accounting Rate of Return 1 C hoose Denominator: Annual average investment - = Accounting Rate of Return Accounting rate of return Project Y Project Z 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 Nel present value Project Chart values are based on: Select Chart Amount x PV Factor - Present Value Net present value