Dorald'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: The equipment's salvage value is zero, and Donald uses straight-line depreciation. Donald will not accept any project with a payback eriod longer than two and a half years. Donald's required rate of return is 12% Tick here to view the factor table. Calculate each project's payback period, using average annual cash flows. (Round answers to 2 decimal places, es. 10.50 and use average annual cash flows in your calculations.)