Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $172,000. Project 2 requires an initial investment of $110,000. 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 $ 132,000 Project 2 $ 112,000 73,000 28,000 40,000 26,000 16,000 28,000 $ 15,000 $ 18,000 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 Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Project 1 Project 2 Income Cash Flow Income Cash Flow $ 132,000 $ 112,000 73,000 28,000 Selling, general, and administrative expenses 16,000 Income. $ 15,000 Net cash flow $ 40,000 26,000 28,000 $ 18,000 0 $ Required A Required B > 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 Payback Period Numerator: T Denominator: Payback period = 0 0 < Required A Required B >