Information for two alternative projects involving machinery Investments follows. Project 1 requires an initial Investment of $192,500. Project 2 requires an initial Investment of $144,000. Annual amounts Project 1 Project 2 sales of new product $ 116,000 $ 96,000 Expenses Materials, labor, and overhead (except depreciation) 69,000 36,000 Depreciation-Machinery 24,000 22,000 Selling, general, and administrative expenses 12,000 24,000 Income $ 11,000 $ 14,000 (a) Compute each project's annual net cash flows. (b) Compute payback period for each Investment. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B IS Compute each project's annual net cash flows. Expected Net Cash Flow - Project 1 Sales Materials, labor, and overhead Net cash flow S Expected Net Cash Flow - Project 2 Sales Materials, labor, and overhead Net cash flow 116,000 X 69,000 185,000 S 96,000 36,000 X 132,000 X S Remirer Required B Required A Required B Compute payback period for each investment. Numerator: Initial investment Payback Period Denominator: 1 Annual net cash flow 35,000 1 36.000 1 = Payback period IS 0 Project 1 Project 2 S = 0