Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $135,000. Project 2 requires an initial investment of $98,000. 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. Project 1 $ 100,000 Project 21 $ 80,000 32,000 65,000 18,000. 20,000 8,000 20,000 $7,000 $ 10,000 (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. Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income Net cash flow Project 1 Project 2 Income Cash Flow Income Cash Flow $ 100,000 $ 80,000 65,000 32,000 20,000 18,000 8,000 20,000 $ 7,000 $ 10,000 $ 0 $ 0