Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $265,000 Project 2 requires an initial investment of $189,000. 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 78,000 Project 1 $ 152,000 Project 2 $ 132,000 33,000 21,008 45,000 31,000 33,000 $ 20,000 $23,000 Complete this question by entering your answers in the tabs below. Required A Required D 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 $ 152,000 $ 132,000 Materials, labor, and overhead (except depreciation) 78,000 45,000 Depreciation-Machinery 33,000 31,000 Selling, general, and administrative expenses 21,000 33,000 Income S 20.000 S 23.000 Net cash flow