es Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $192,500. Project 2 requires an initial investment of $144,000. Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income (a) Compute each project's annual net cash flow. (b) Compute payback period for each investment. Project 1 $ 116,000 Project 2 $ 96,000 69,000 36,000 24,000 22,000 12,000 24,000 $ 11,000 $ 14,000 Complete this question by entering your answers in the tabs below. Required A Required B Compute payback period for each investment. Project 1 Project 2 Numerator: Payback Period Denominator: < Required A Payback period = = Required B