Doug's Custom Construction Company is considering three new projects, each requiring an equipment investment of $23,100. Each project will last for 3 years and produce the following net annual cash flows. Year AA 1$7350 $10,500 $13,650 2 945o 10,500 12600 3 12.600 10,500 11550 Total $29,400 $31,500 $37,800 The equipment's salvage value is zero, and Doug uses straigt-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 PV table. Compute each project's payback period. (Round answers to 2 decimal places, e-g. 15.25) years 2.2 years years