Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $245,000. Project 2 requires an initial investment of $175,000. Project 1 $ 144,000 Project 2 $ 124,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 76,000 31,000 19,000 $ 18,000 43,000 29,000 31,000 $ 21,000 (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 144,000 Project 2 Income Cash Flow $ 124.000 $ Sales of new product Expenses Materials, labor, and overhead (except depreciation) DepreciationMachinery Selling, general, and administrative expenses Income Net cash flow 43,000 29,000 76,000 31,000 19,000 18,000 31,000 21,000 $ $ $ 0 $ 0 Required A Required B Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $245,000. Project 2 requires an initial investment of $175,000. Project 1 $ 144,000 Project 2 $ 124,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 76,000 31,000 19,000 $ 18,000 43,000 29,000 31,000 $ 21,000 (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 payback period for each investment. 1 Numerator: Accounts receivable Payback Period Denominator: Accounts receivable 1 = Payback period 0 = Project 1 Project 2 - 0