Grouper Manufacturing Company is considering three new projects, each requiring an equipment investment of $24,400. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $7,700 $10,500 $11,700 2 9,700 10,500 10,700 3 15,700 10,500 9,700 Total $33,100 $31,500 $32,100 The salvage value for each of the projects is zero. Grouper uses straight-line depreciation. Grouper will not accept any project with a payback period over 2.3 years. Grouper's minimum required rate of return is 12%. Compute each project's payback period. (Round answers to 2 decimal places, e.g. 52.75.) Payback period AA years BB years Indicating the most desirable project and the least desirable project using this method. Most desirable Least desirable CC years