The following information applies to the questions displayed below./ Most Company has an opportunity to Invest in one of two new projects. Project Y requlres 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 machlnery 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. (FV of $1, PV of $1, FVA of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.) Project Z $395,000 316,000 Project Y Sales Expenses Direct materlals Direct labor Overhead including depreciation Selling and administrative expenses 55,300 79,000 142,200 28,000 39,500 47,400 142,200 28,000 Total expenses 304,500 257100 Pretax Income Income taxes (40%) 90,500 36,200 58,900 23,560 Net Income $ 54,300 35,340 value: 1111 points Required 1. Compute each project's annual expected net cash flows Project Y Project Z