Dougs Custom Construction Company is considering three new projects, each requiring an equipment investment of $22,220. Each project will last for 3 years and produce the following net annual cash flows.

Year		AA		BB		CC
1		$7,070		$10,100		$13,130
2		9,090		10,100		12,120
3		12,120		10,100		11,110
Total		$28,280		$30,300		$36,360

The equipments salvage value is zero, and Doug uses straight-line depreciation. Doug will not accept any project with a cash payback period over 2 years. Dougs required rate of return is 12%. Click here to view PV table.

Compute each projects payback period. (Round answers to 2 decimal places, e.g. 15.25.)

Compute the net present value of each project