Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $220.000. Project 2 requires an initial investment of $140,000. Project 1 $ 156,000 Project 2 $ 136, eee Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 79,800 34,800 22,899 $ 21,eee 46,000 32,eee 34, eee $ 24,eee (a) Compute each project's annual net cash flows. (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 flows. Expected Net Cash Flow - Project 1 Net cash flow Expected Net Cash Flow - Project 2 Net cash flow Required A Required B Required A Required Compute payback period for each investment. Payback Period Denominator: Numerator: 1 1 = Payback period = Project 1 Project 2 =