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 BB CC 1 $7,000 $9,500 $11,000 2 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%. 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 O decimal places, e.g. 5,275.) AA Net present value $ Indicate the most desirable project and the least desirable project using this method. Most desirable Least desirable