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. 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 each project's payback period. (Round answers to 2 decimal places, e.g. 52.75.) Indicating the most desirable project and the least desirable project using this method. Most desirable Least desirable