Culver Manufacturing Company is considering three new projects, each requiring an equipment investment of $27,700. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $8.900 $11,700 $12,900 2 10,900 11.700 11.900 3 16,900 11,700 10.900 Total $36,700 $35.100 $35,700 The salvage value for each of the projects is zero. Culver uses straight-line depreciation. Oulver will not accept any project with a payback period over 2.3 years. Culver's minimum required rate of return is 12%. Click here to view PV tables. (a) Compute cach project's payback period. (Round answers to 2 decimal places, c.8. 52.75.) AA BB CC Darbarin - / 10 TI (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 52.75.) AA BB CC Payback period years years years Indicating 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) The parts of this question must be completed in order. This part will be available when you complete the part above