Cepeda Manufacturing Company is considering three new projects, each requiring an equipment investment of $22,000. Each project will last for 3 years and produce the following cash inflows. Year AA BB 1 2 3 $7,000 9,000 15.000 $31,000 $9,500 9,500 9,500 $28,500 CC $11,000 10,000 9,000 $30,000 Total The equipment's salvage value is zero. Cepeda uses straight-line depreciation. Cepeda will not accept any project with a payback period over 2 years. Cepeda's minimum required rate of return is 12%. Click here to view PV table. Compute each project's payback period. (Round answers to 2 decimal places, eg. 52.75.) BB CC AA years years years Payback period Indicate the most desirable project and the least desirable project using this method. Most desirable Least desirable Compute the net present value of each project. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answers to decimal places, eg. 5,275.) AA BB CC $ Net present value $ Indicate the most desirable project and the least desirable project using this method. Most desirable Least desirable