Doug's Custom Construction Company is considering three new projects, each requiring an equipment investment of $22,000. Each project will last for 3 years and produce the following net annual cash flows Year AA BB CC 1 $7,000 $10,000 $13,000 2 9,000 10,000 12,000 3 12,000 10,000 11,000 Total $28,000 $30,000 $36,000 The equipment's salvage value is zero, and Doug uses straight-line depreciation. Doug will not accept any project with a cash paybac period over 2 years. Doug's required rate of return is 12% Click here to view PV table (a) Compute each project's payback period. (Round answers to 2 decimal places, eg 15.25) AA years 88 CC years years Which is the most desirable project? The most desirable project based on payback period is Which is the least desirable project? The least desirable project based on payback period is (b) Compute the net present value of each project. (Enter negative amounts using either a negative sign preceding the number eg or parentheses eg (45). Round final answers to the nearest whole dollar, eg 5,275. For calculation purposes, use 5 decimal pl as displayed in the factor table provided.) AA 8%% CC years BB years years Which is the most desirable project? The most desirable project based on payback period is Which is the least desirable project? The least desirable project based on payback periodis (b) Compute the net present value of each project. (Enter negative amounts using either a negative sign preceding the number es 45 or parentheses es. (45). Round final answers to the nearest whole dollar, es 5,275. For calculation purposes, use 5 decimal places as displayed in the factor table provided) AA BB %8 Which is the most desirable project based on net present value? The most desirable project based on net present value is Which is the least desirable project based on net present value? The least desirable project based on net present value is eTextbook and Media Serfor