Ayayai Manufacturing Company is considering three new projects, each requiring an equipment investment of $22,300. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $7,100 $9,600 $11,100 2 9,100 9,600 10,100 3 15,100 9,600 9,100 Total $31,300 $28,800 $30,300 The salvage value for each of the projects is zero. Ayayai uses straight-line depreciation. Ayayai will not accept any project with a payback period over 2.2 years. Ayayai's minimum required rate of return is 12%, Click here to view PV tables. (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 52.75.) Payback period AA years BB Indicating the most desirable project and the least desirable project using this method. Most desirable Least desirable O years CC 20 years