Information for two alternative projects involving machinery investments follows. Project $1$ requires an initial investment of $$172,000.$ Project $2$ requires an initial investment of $$110,000.$

Annual Amounts Project $1$ Project $2$

Sales of new product $ $132,000$ $ $112,000$

Expenses

Materials, labor, and overhead $($except depreciation$)73,00040,000$

Depreciation$$Machinery $28,00026,000$

Selling, general, and administrative expenses $16,00028,000$

Income $ $15,000$ $ $18,000$

$($a$)$ Compute each project$$s annual net cash flow.

$($b$)$ Compute payback period for each investment.Information for two alternative projects involving machinery investments follows. Project $1$ requires an initial investment of $$172,000.$

Project $2$ requires an initial investment of $$110,000.$

$($a$)$ Compute each project's annual net cash flow.

$($b$)$ Compute payback period for each investment.

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Compute each project's annual net cash flow.