Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $155,000. Project 2 requires an initial investment of $112,000. 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 $108,000 Project 2 $ 88,000 67,000 34,000 22,000 10,000 22,000 $ 9,000 $ 12,000 Complete this question by entering your answers in the tabs below. Required A Required B Compute each project's annual net cash flow. 20,000 Annual Amounts Sales of new product Expenses Project 1 + Project 2 Income Cash Flow Income Cash Flow $ 108,000 88,000 Materials, labor, and overhead (except depreciation) 67.000 Depreciation-Machinery 22.000 Selling, general, and administrative expenses 10,000 Income S 9,000 Net cash flow Required B> 34,000 20.000 22,000 $ 12,000