Exercise 11-1 (Static) Payback period, equal cash flows, and depreciation adjustment LO P1 Information for two alternative projects involving machinery investments follows. Project 1requires an initial investment of $140,000 Project 2 requires an initial investment of $90,000. Annual Amounts Project 1 Sales of new product Project 2 $ 100,000 Expenses $ 80,000 Materials, labor, and overhead (except depreciation) 54,000 35,000 Depreciation-achinery 16,000 Selling, general, and administrative expenses 3,600 20.000 Income $ 3,00 5.7.000 (a) Compute each project's annual net cash flows. (b) Compute payback period for each investment 20.000 Complete this question by entering your answers in the tabs below. Required A Required B 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 B > Complete this question by entering your answers in the tabs below. Required A Required B Compute payback period for each investment. Payback Period Denominator: Numerator: Payback period Project 1 Project 2