(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 $335.000 investment for new machinery with a five-year life and no salvage value. Project Z requires a $335,000 investment for new machinery 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 (PV of $1. FV of $1. PVA of $1. and EVA of $1 ) (Use appropriate factor(s) from the tables provided.) Project Y Project z $395,000 $316,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses Total expenses Pretax income Income taxes (30%) Not Income 55,300 79,000 142.200 28.000 34.500 90,500 27.150 $ 63,350 39,500 47,400 142.200 20,000 257.100 58.00 17,670 $41,230 Required: 1. Compute each project's annual expected net cash flows. Project Project Z 2. Determine each project's payback period. Payback Period 1 Choose Denominator = Choose Numerator: Payback Period Payback period Project Y Project Z 3. Compute each project's accounting rate of return. Accounting Rate of Return Choose Numerator: Choose Denominator: Accounting Rate of Return Accounting rate of return Project Y Project Z Project Y Chart values are based on: Select Chart Amount x PV Factor - Present Value Net present value Project Z Chart values are based on: Net present value Project Z Chart values are based on: on: Select Chart Amount PV Factor - Present Value Net present value