Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $274,500. Project 2 requires an initial investment of $186,000. Annual Amounts Project 1 Project 2 Sales of new product $ 168, 090 $ 148,000 Expenses Materials, labor, and overhead (except depreciation) 82,090 49,060 Depreciation-Machinery 37, 090 35, 000 Selling, general, and administrative expenses 25, 900 37, 000 Income $ 24, 090 $ 27,000 (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 $ 168,000 $ 148,000 Expenses Materials, labor, and overhead (except depreciation) 82,000 49,000 Depreciation-Machinery 37,000 35.000 Selling, general, and administrative expenses 25.000 37,000 Income $ 24,000 27,000 Net cash flow