Doug's Custom Construction Company is considering three new projects, each requiring an equipment Investment of $24,200. Each project will tast for 3 years and produce the following net annual cash flows. AA Year 1 2 3 $7,700 9,900 13,200 $30,800 BB CC $11,000 $14,300 11,000 13,200 11,000 12,100 $33,000 $39,600 Total The equipment's salvage value is zero, and Doug uses straight-line depreciation. Doug will not accept any project with a cash payback period over 2 years. Doug's required rate of retum is 12%. Click here to view the factor table. Compute the net present value of each project. (Enter negative amounts e.g. (45). Round final answers to the nearest whole dollar, e.g. 5,27 table provided.) X AA 24162.69 X BB 26420.13 CC 31903.35 Which is the most desirable project based on net present value? The most desirable project based on net present value is Project CC Which is the least desirable project based on net present value? The least desirable project based on net present value is Project AA 4