Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $260,000. Project 2 requires an initial investment of $165,000. 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 $ 176,000 Project 2 $ 156,000 84,000 51,000 39,000 27,000 37,000 39,000 $ 26,000 $ 29,000 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 $ 176,000 $ 156,000 Materials, labor, and overhead (except depreciation) 84,000 Depreciation-Machinery 39,000 Selling, general, and administrative expenses 27,000 Income $ 26,000 Net cash flow $ < Required A Required B > 51,000 37,000 39,000 $ 29,000 $ 0 Required A Required B Compute payback period for each investment. Project 1 Project 2 Numerator: Payback Period Denominator: = Payback period = 0 0 < Required A Required B >