Concord Manufacturing Company is considering three new projects, each requiring an equipment investment of $27,400. Each project will last for 3 years and produce the following cash flows. The salvage value for each of the projects is zera Concord uses straight-line depreci tion. Concord will not accept any project with a payback period over 2.3 years. Concord's minimum required rate of return is 12%. Clickhere to view PV tables. (a) Compute each project's payback period. (Round onswers to 2 decimol ploces, es. 52.75) Indicating the most desirable project and the least desirable project using this method