Dougs Custom Construction Company is considering three new projects, each requiring an equipment investment of $22,440. Each project will last for 3 years and produce the following net annual cash flows.

Year		AA		BB		CC
1		$7,140		$10,200		$13,260
2		9,180		10,200		12,240
3		12,240		10,200		11,220
Total		$28,560		$30,600		$36,720

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

AA		enter the payback period in years rounded to 2 decimal places	years
BB		enter the payback period in years rounded to 2 decimal places	years
CC		enter the payback period in years rounded to 2 decimal places	years