Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $140,000. Project 2 requires an initial investment of $90,000. Project 1 $ 100,000 Project 2 $ 80,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 64,000 20,000 8,000 $ 8,000 35,000 18,000 20,000 $ 7,000 (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 Income Depreciation Machinery Net cash flow Expected Net Cash Flow - Project 2 8,000 20,000 Net cash flow Required A Required B Compute payback period for each investment. Payback Period Denominator: Numerator: / Payback period 0 Project 1 Project 2 0