Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $148,000. Project 2 requires an initial investment of $133,000. 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 $ 120,000 Project 2 $ 100,000 70,000 37,000 25,000 13,000 23,000 25,000 $ 12,000 $ 15,000 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 $ 120,000 100,000 Materials, labor, and overhead (except depreciation) 70,000 37,000 Depreciation-Machinery 25.000 23.000 Selling, general, and administrative expenses 13,000 25,000 Income $ 12,000 $ 15,000 Net cash flow $ 0 $ 0 Complete this question by entering your answers in the tabs below. Required A Required B Compute payback period for each investment. Project 1 Project 21 Numerator: Payback Period 1 Denominator: Payback period 0 0