E11-12 Ranking Capital Investment Projects Using Different Criteria [LO 11-2, 11-3, 11-5, 11-6] ill Harrington, a manager at Jennings Company, is considering several potential capital investment projects. Data on these projects follow: Initial investment Annual cash inflows PV of cash inflows 40,000 $20,000 $50,000 25,000 10,00025,400 5,000 33,000 70,000 Required 1. Compute the payback period for each project and rank order them based on this criterion. (Round your answers to 2 decimal places.) Payback Period Rank Project X Project Y Project Z