Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $174,000. Project 2 requires an initial investment of $120,000. (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. Compute each project's annual net cash flow. Compute payback period for each investment. Beyer Company is considering buying an asset for $290,000. It is expected to produce the following net cash flows. Compute the payback period for this investment. Note: Cumulative net cash outflows must be entered with a minus sign. Round your Payback Period answer to 2 decimal places