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. 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 $ 104,000 Project 2 $ 84,000 33,000 66,000 21,000 9,000 19,000 21,000 $ 8,000 $ 11,000 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 Project 1 Project 2 Income Cash Flow Income Cash Flow 104,000 $ 84,000 Expenses Materials, labor, and overhead (except depreciation) 66,000 33,000 Depreciation-Machinery 21,000 19,000 Selling, general, and administrative expenses 9,000 21,000 Income $ 8,000 $ 11,000 Net cash flow $ 0 EA $ 0 Required A Required B Compute payback period for each investment. Numerator: Initial investment Project 1 Project 2 Payback Period Denominator: Annual net cash flow II = = Payback period 0 0