Information for two alternative projects involving machinery Investments follows. Project 1 requires an Initial Investment of $220,000. Project 2 requires an Initial Investment of $140,000. 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 $ 156,000 Project 2 $ 136,000 79,000 34,000 46,000 22,000 32,000 34,000 $ 21,000 $ 24,000 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 Project 1 Project 2 Income Cash Flow Income Cash Flow $ 156,000 $ 136,000 Materials, labor, and overhead (except depreciation) 79,000 Depreciation-Machinery 34,000 Selling, general, and administrative expenses 22,000 Income S 21,000 Net cash flow $ < Required A 46,000 32,000 34,000 $ 24,000 0 $ 0 Required B > Required A Required B Compute payback period for each investment. Numerator: 1 Payback Period Denominator: Project 1 Project 2 = Required A Required B > Payback period 0 0