Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $174,000. Project 2 requires an initial investment of $120,000. Project 1 $ 104,000 Project 2 $ 84,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 66,000 21,000 9,000 $ 8,000 33,000 19,000 21,000 $ 11,000 (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. Project 1 Annual Amounts Project 2 Income Cash Flow Income Cash Flow $ 104,000 $ 84,000 66,000 33,000 Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 19,000 21,000 9,000 21,000 11,000 $ 8,000 $ Net cash flow $ 0 $ 0 Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $174,000. Project 2 requires an initial investment of $120,000. Project 1 $ 104,000 Project 2 $ 84,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 66,000 21,000 9,000 $ 8,000 33,000 19,000 21,000 $ 11,000 (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. Payback Period Denominator: Numerator: 1 / Payback period = Project 1 Project 2 =