Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $236,000. Project 2 requires an initial investment of $150,000. 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 $164,000 Project 2 $144,000 81,000 48,000 36,000 34,000 24,000 36,000 $ 23,000 $ 26,000 (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 Project 1 Project 2 Income Cash Flow Income Cash Flow 164,000 144,000