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Problem 26-3A (Static) Applying payback period, accounting rate of return, and net present value LO P1, P2, P3 190,000 50,000 Garcia Company can invest in one of two alternative projects. Project Y requires a $360,000 initial investment for new machinery with a four-year life and no salvage value. Project Z requires a $360,000 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) (Use appropriate factor(s) from the tables provided.) Annual Amounts Project Project 2 Sales of new product $400,000 $ 500,000 Expenses Materials, labor, and overhead (except depreciation) 200,000 Depreciation Machinery 90,000 Selling, general, and administrative expenses $ 70,000 Required: 1. Compute each project's annual net cash flows. 2. Compute each project's payback period. If the compony bases Investment decisions solely on payback period, which project will it choose? 3. Compute each project's accounting rate of return. If the company bases investment decisions solely on accounting rate of return, which project will it choose? 4. Compute each project's net present value using 8% as the discount rate. If the company bases investment decisions solely on net present value, which project will It choose? 120.000 50.000 $ 130,000 Income Required 1 Required 2 Required 3 Required 4 Compute each project's annual net cash flows. Expected Net Cash Flow Net cash flow Expected Net Cash Flow Net cash flow Required 1 Required 2 Required 3 Required 4 Compute each project's payback period. If the company bases Investment decisions solely on payback period, which project will it choose? Payback Period Denominator Numerator Payback period Project Y Project Z the company bases investment decisions solely on payback period, which project will it choose? Required 1 Required 2 Required 3 Required 4 Compute each project's accounting rate of return. If the company bases Investment decisions solely on accounting rate of return, which project will it choose? Accounting Rate of Return Denominator Numerator: Accounting rate of return Project Y Project 2 If the company bases investment decisions solely on bocounting rate of return, which project will choose? Compute each project's net present value using 8% as the discount rate. If the company bases Investment decisions solely on net present value, which project will it choose? (Do not round Intermediate calculations. Round your present value factor to 4 decimals and final answers to the nearest whole dollar.) Project Y Chart values are based on: ns i Select Chart Amount x PV Factor Prosent Value - Net present value Project 2 Chart values are based on: n. Select Chart Amount PV Factor Present Value