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 YearAA $7,000 $10,000 13,000 9,000 10,000 12,000 3 12,000 10,000 11,000 Total $28,000 $30,000 $36,000 2 The equipments salvage value is zero and Doug uses straight-line depreciation. Doug will not accept a pro ect it a cash payback periodo er 2 ears ogs require rate of returns 2% c her ov e v cable Compute each project's payback period. (Round answers to 2 decimal places, e.g. 15.25.) years years