Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $148,500. Project 2 requires an initial investment of $102,000. 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 $112,000 Project 2 $ 92,000 68,000 23,000 35,000 21,000 11,000 23,000 $ 10,000 $ 13,000 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 $ 112,000 $ 92,000 Materials, labor, and overhead (except depreciation) 68,000 35,000 Depreciation-Machinery 23,000 21,000 Selling, general, and administrative expenses 11,000 23,000 Income $ 10,000 $ 13,000 Net cash flow $ 0 $ 0