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PMT47? APPLIED PROJECT MANAGEMENT 1.3 ASSIGNMENT: WEEK 1 EXERCISES CH. 2 EXERCISE 2 Two new software projects are proposed to a young, start-up company. The Alpha project will cost $150,000 to develop and is expected to have an annual net cash flow of $40,000. The Beta project will cost $200,000 to develop and is expected to have an annual net cash flow of $50,000. The company is concerned about their cash flow. NOTE: Payback period in years = Investment, Annual Savings ProjectName| Investment [Annual Savings |PaybackPeriod | | Alpha $150,000 $40,000](Type Excel formula to calculate result) | Beta $200,000 $50,000] (Type Excel formula to calculate result] | Using the payback period, which project is better from a cash flow standpoint? Why? (Enter response)