Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $175,500. Project 2 requires an initial investment of $120,000. Project 1 $ 124,000 Project 2 $ 104,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation Machinery Selling, general, and administrative expenses Income 71,000 26,000 14.000 $ 13,000 38,000 24,000 26,000 $ 16,000 (a) Compute each project's annual net cash flow. (b) Compute payback period for each investment. Complete this question by entering your answers in the tabs below. Required A Required B Compute each project's annual net cash flow. Annual Amounts Project 1 Income Cash Flow 124,000 Project 2 Income Cash Flow $ $ 104.000 Sales of new product Expenses Materials, labor, and overhead (except depreciation) 71.000 38,000