Blue Spruce Manufacturing Company is considering three new project each requiring an equipment investment of $29,200. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $9,400 $12,200 $13,400 2 11,400 12,200 12,400 3 17,400 12.200 11,400 Total $38,200 $36,600 $37,200 The salvage value for each of the projects is zero. Blue Spruce uses straight-line depreciation. Blue Spruce will not accept any project with a payback period over 2.3 years. Blue Spruce's minimum required rate of return is 12%. Click here to view PV tables. (a) Your answer has been saved. See score details after the due date. Compute each project's payback period. (Round answers to 2 decimal places, eg. 52.75) Payback period AA 2.48 years BB CC 2.39 years 2.30 years Indicating the most desirable project and the least desirable project using this method. Most desirable Project CC Least desirable Project AA v Attempts: 1 of 1 used