Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $148,500. 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 flow. (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 flow. Project 1 Project 2 Annual Amounts Income Cash Flow Income Cash Flow $ 112,000 $ 92,000 Sales of new product Expenses Materials, labor, and overhead (except depreciation) 68,000 35,000 23,000 DepreciationMachinery Selling, general, and administrative expenses 21,000 23,000 11,000 Income $ 10,000 $ 13,000 Net cash flow Required A Required B Compute payback period for each investment. Payback Period / Denominator: Numerator: 1 = Payback period Project 1 Project 2 =