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Novak Manufacturing Company is considering three new projects, each requiring an equipment investment of $25,400. Each project will last for 3 years and produce the following cash flows. The salvage value for each of the projects is zero. Novak uses straight-line depreciation. Novak will not accept any project with a payback period over 2.2 years. Novak's minimum required rate of return is 12%. Click here to view PV tables. Your answer is correct. Compute each project's payback period. (Round answers to 2 decimal places, eg. 52.75.) Indicating the most desirable project and the least desirable project using this method. Most desirable Least desirable eTextbook and Media Compute the net present value of each project. (Use the above table) (Round factor values to 5 decimal places, eg. 1.25124 and final answers to 0 decimal places, e. 3.5,275. Indicating the most desirable project and the least desirable project using this method