Blossom's Custom Construction Company is considering three new projects, each requiring an equipment investment of $27,060. Each project will last for 3 years and produce the following net annual cash flows. Year AA BB CC 1 $8,610 $12,300 $15,990 2 11,070 12.300 14,760 3 14,760 12,300 13,530 Total $34,440 $36,900 $44,280 The equipment's salvage value is zero, and Blossom uses straight-line depreciation. Blossom will not accept any project with a cash payback period over 2 years. Blossom's required rate of return is 12%. Click here to view the factor table (a) Compute each project's payback period. (Round answers to 2 decimal places, eg. 15.25) AA years BB 22 years AA years BB 2.2 years CC Which is the most desirable project? years The most desirable project based on payback period is Project BB Which is the least desirable project? The least desirable project based on payback period is Project CC (b) Compute the net present value of each project. (Enter negative amounts using either a negative sign preceding the number es-45 or parentheses eg. (45). Round final answers to the nearest whole dollar, e.g. 5,275. For calculation purposes, use 5 decimal places as displayed in the factor table provided) AA BB CC Which is the most desirable project based on net present alue? The most desirable project based on net present value is Project AA Which is the least desirable project based on net present value? The least desirable project based on net present value is ProjectAA