Problem $26-3$A $($Algo$)$ Applying payback period, accounting rate of return, and net present value LO P$1,$ P$2,$ P$3$

Garcia Company can invest in one of two alternative projects. Project $Y$ requires a $$430,000$ initial investment for new machinery with a four$-$year life and no salvage value. Project $Z$ requires a $$474,000$ initial investment for new machinery with a three$-$year life and no salvage value. The two projects yield the following annual results. Cash flows occur evenly within each year. $($PV of $$1,$ FV of $$1,$ PVA of $$1,$ and FVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

$\backslash$table$[[$Annual Amounts,Project Y$,$Project Z$],[$Sales of new product,$$480,000,$$$442,000$