[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 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.) Project Y Project z $385,000 $308,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (38%) Net income 53,900 38,500 77,000 46,200 138,600 138,600 28,000 27,000 297,500 250, 300 87,500 57,700 33,250 21,926 $ 54,250 $ 35,774 Problem 24-2A Part 4 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.) X Answer is not complete. Project Y Chart values are based on: Project Y Chart values are based on: n = 6 i = 7% Select Chart Amount PV Factor Present Value Present Value of an Annuity of 1 $ 0 Present value of cash inflows 00 Present value of cash outflows Net present value Project z Chart values are based on: n = i = Select Chart Amount PV Factor = Present Value Present Value of an Annuity of 1 = $ 0 Present value of cash inflows 0 Present value of cash outflows Net present value