Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $148,500. t Project 2 requires an initial investment of $102,000. Project 1 $ 112,000 Project 2 $ 92,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 68,000 23,000 11,000 $ 10,000 35,000 21,000 23,000 $ 13,000 (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 Compute payback period for each investment. Payback Period Denominator: Numerator: / Payback period 0 Project 1 Project 2