Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $283,500. Project 2 requires an initial investment of $192,000. Project 2 $ 152,000 Annual Amounts Project 1 Sales of new product $ 172,000 xpenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery , 000 50,0 38,000 36,000 Selling, general, and administrative expenses 26,000 8, 000 $ 25,000 $ 28,000 Income (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. Project 1 Project 2 Annual Amounts Income Cash Flow Income Cash Flow Sales of new product 172,000 152,000 |xpenses Materials, labor, and overhead (except depreciation) 83,000 50,000 Depreciation-Machinery 38,000 36,000 Selling, general, and administrative expenses 26,000 38,000 Income 25,000 28,000 Net cash flow Required A Required B Compute payback period for each investment. Payback Period Numerator: Denominator: Payback period Project 1 Project 2