Ayayai Manufacturing Company is considering three new projects, each requiring an equipment investment of $28,900. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $9,300 $12,200 $13,300 2 11,300 12,200 12.300 3 17,300 12,200 11,300 Total $37.900 $36,600 $36,900 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 2.3 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.) AA BB CC Payback period years years years Indicating the most desirable project and the least desirable project using this method. payback period over 2.3 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.) AA BB CC Payback period years years years Indicating the most desirable project and the least desirable project using this method. Most desirable Least desirable Save for Later Attempts: 0 of 1 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above