Current Attempt in Progress Ayayai Manufacturing Company is considering three new projects, each requiring an equipment investment of $22,300. Each project will last for 3 years and produce the following cash flows. Year AA BB 1 $7,100 $9,600 $11,100 2 9,100 9,600 10,100 3 15,100 9,600 9,100 Total $31,300 $28,800 $30,300 The salvage value for each of the projects is zero. Ayayai uses straight-line depreciation. Ayayai will not accept any project with a payback period over 2.2 years. Ayayai's minimum required rate of return is 12%. Click here to view PV tables. (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 52.75.) Payback period AA years BB Indicating the most desirable project and the least desirable project using this method. Most desirable Least desirable years CC years Question 28 of 50 -/8 Coronado Landscaping Inc. is preparing its budget for the first quarter of 2022. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end, the following information has been collected. Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2021 and expected service revenues for 2022 are November 2021, $73,600; December 2021, $82,800; January 2022, $92,000; February 2022, $110,400; and March 2022, $128,800. Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2021 and expected purchases for 2022 are December 2021, $12,880; January 2022, $11,040; February 2022, $13,800; and March 2022, $16,560. (a) Prepare the following schedules for each month in the first quarter of 2022 and for the quarter in total: (1) Expected collections from clients. January November $ December January February March Total collections 7360 CORONADO LANDSCAPING INC. Schedule of Expected Collections From Clients For the Quarter Ending March 31, 2022 February 1A $ LA March $ LA $ 1A $ Quarter Question 28 of 50 March Total collections $ (2) Expected payments for landscaping supplies. LA 1A CORONADO LANDSCAPING INC. Schedule of Expected Payments for Landscaping Supplies January February December $ $ January February March Total payments $ (b) Determine the following balances at March 31, 2022: (1) Accounts receivable $ (2) Accounts payable $ +A $ March +A $ -18 E 1A $ EA +A Quarter