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) 73,000 40,000 DepreciationMachinery 28,000 26,000 Selling, general, and administrative expenses 16,000 28,000 Income $ 15,000 $ 18,000 (a) Compute each projects annual net cash flows.