Doug's Custom Construction Company is considering three new projects, each requiring an equipment Investment of $24.200. Each project will last for 3 years and produce the following net annual cash flows Year 1 2 3 Total AA $7.700 9.900 13,200 $30,000 BB $11,000 11.000 11.000 $33,000 $14,300 13.200 12.100 $39.600 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 return is 12%. Click here to view the factor table. (a) Compute each project's payback period. (Round answers to 2 decimal places, es. 15.25.) AA 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?