Required information [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 $310,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $310,000 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 $355,000 $284,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses 35,500 42,600 127,800 127,800 25,000 273,500 230,900 53,100 14,868 $ 58,680 38,232 49,700 71,000 25,000 81,500 Total expenses Pretax income Income taxes (28%) Net income 22,820 Required 1. Compute each project's annual expected net cash flows Project Y Project Z Required information [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 $310,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $310,000 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 $355,000 $284,000 Sales Expenses Direct materials Direct labor Overhead including depreciation Selling and administrative expenses 35,500 42,600 127,800 127,800 25.000 230,900 53,100 14,868 $ 58,680 38,232 49,700 71,000 Total expenses Pretax income Income taxes (28%) Net income 25.000 273,500 81,500 22,820 2. Determine each project's payback period Payback Period Choose Denominator Choose Numerator: Payback Period Payback period Project Y Project Z