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 CC 1 $7,000 $9,500 $11,000 N 9.000 9.500 10.000 3 15.000 9.500 9.000 Total $31.000 $28,500 $30.000 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 (a) Compute each project's payback period (Round answers to 2 decimal places, e.g. 52.75.) (a) Compute each project's payback period. (Round answers to 2 decimal places, eg. 52.75.) BB CC Payback period years years years Indicate 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)