Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $192,500. Project 2 requires an initial investment of $144,000. Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses 69,000 Project 1 $ 116,000 Project 2 $ 96,000 36,000 24,000 12,000 22,000 24,000 $ 11,000 $ 14,000 Incone (a) Compute each project's annual net cash flow. (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 Project 1 Project 2 Income Cash Flow Income Cash Flow $ 116,000 $ 116,000 $ 96,000 $ 96,000 Materials, labor, and overhead (except depreciation) 69,000 69,000 36,000 36,000 Depreciation-Machinery 24,000 22.000 Selling, general, and administrative expenses 12.000 12,000 24,000 24,000 Income S 11,000 S 14,000 Net cash flow S 35,000 $ 36.000