Compute each projects accounting rate of return

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Reference no: EM13982878

Most Company has an opportunity to invest in one of two new projects. Project Y requires a $340,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a $340,000 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. (FV of $1, PV of $1, FVA of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.)

 

Project Y

Project Z

  Sales

 

$

370,000

     

$

330,000

   

  Expenses

                   

      Direct materials

   

51,800

       

41,250

   

      Direct labor

   

74,000

       

49,500

   

      Overhead including depreciation

   

133,200

       

148,500

   

      Selling and administrative expenses

   

26,000

       

29,000

   

 

                   

  Total expenses

   

285,000

       

268,250

   

 

                   

  Pretax income

   

85,000

       

61,750

   

  Income taxes (26%)

   

22,100

       

16,055

   

 

                   

  Net income

 

$

62,900

     

$

45,695

   

4. Determine each project's net present value using 8% as the discount rate. Assume that cash flows occur at each year-end.(Round your intermediate calculations.)

                   

Required:

1. Compute each project's annual expected net cash flows

2. Determine each project's payback period.

3. Compute each project's accounting rate of return.

4. Determine each project's net present value using 8% as the discount rate. Assume that cash flows occur at each year-end. (Round your intermediate calculations.)

Reference no: EM13982878

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