Donald's Custom Manufacturing Company is considering three new projects. Each one requires an equipment investment of $27.700, will last for three years, and will produce the following net annual cash flows: Year AA BB CC 1 $8,050 $11,040 $14,950 2 10,350 11,040 10,350 3 13,800 11,040 12,650 Total $32,200 $33,120 $37,950 The equipment's salvage value is zero, and Donald uses straight-line depreciation. Donald will not accept any project with a payback period longer than two and a half years. Donald's required rate of return is 12%. Click here to view the factor table. Calculate each project's payback period, using average annual cash flows. (Round answers to 2 decimal places, eg. 10.50 and use average annual cash flows in your calculations.) Calculate each project's payback period, using average annual cash flows. (Round answers to 2 decimal places, eg. 10.50 and use average annual cash flows in your calculations.) Project AA Project BB Project CC Payback period years years years Identify the most desirable project and the least desirable project using this method. Identify the most desirable project and the least desirable project using this method. Most desirable project Least desirable project eTextbook and Media Calculate the net present value of each project. (If the answer is negative, use either a negative sign preceding the number eg.-5,275 or parentheses eg. (5,275). For calculation purposes, use 5 decimal places as displayed in the factor table provided, eg. 1.25124 and final answers to O decimal places, eg. 5,275.) Calculate the net present value of each project. (If the answer is negative, use either a negative sign preceding the number eg.-5,275 or parentheses eg. (5,275). For calculation purposes, use 5 decimal places as displayed in the factor table provided, eg. 1.25124 and final answers to O decimal places, eg. 5,275.) Net present value Project AA $ Project BB $ Project CC $ Does your evaluation change?