Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $175,500. Project 2 requires an initial investment of $120,000 Annual gants Project 1 Project 2 Sales of new product $ 124,000 $ 104,000 Expenses Materials, labor, and overhead (except depreciation) 71,000 38,000 Depreciation-Machinery 26,000 24,000 Selling, general, and administrative expenses 14.000 26,000 Income $ 13,000 $ 16,000 (a) Compute each project's annual net cash flows. (b) Compute payback period for each investment. Answer is complete but not entirely correct. 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 Sales $ Materials, labor, and overhead 3 Net cash flow $ Expected Net Cash Flow - Project 2 Sales $ Materials, labor, and overhead X Net cash flow $ 124,000 3 71,000 3 195,000 104.000 38,000 142,000 $ Peru Required B > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required a Required B Compute payback period for each investment. Numerator Net sales Payback Period Denominator Initial investment 3 245,000 $ 49,000 - 175.000 $ 50,000 Project 1 Project 2 Payback period 50 years 35 years