1 of 10 > 0.2/1 III : Bramble Manufacturing Company is considering three new projects, each requiring an equipment investment of $29,500. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $9,500 $12,300 $13,500 2 11,500 12,300 12,500 3 17,500 12,300 11,500 Total $38,500 $36,900 $37,500 The salvage value for each of the projects is zero. Bramble uses straight-line depreciation. Bramble will not accept any project with a payback period over 2.3 years. Bramble's minimum required rate of return is 12%. Click here to view PV tables. Question 1 of 10 0.2/1 III (a) Your answer is partially correct. Compute each project's payback period. (Round answers to 2 decimal places, eg, 52,75.) AA BB CC Payback period 241 years 2.34 years 2.14 years Indicating the most desirable project and the least desirable project using this method