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having trouble with BB and CC (in red) Exercise 26-2 Your answer is partially correct. Doug's Custom Construction Company is considering three new projects, each

image text in transcribedimage text in transcribedhaving trouble with BB and CC (in red)

Exercise 26-2 Your answer is partially correct. Doug's Custom Construction Company is considering three new projects, each requiring an equipment investment of $22,880. Each project will last for 3 years and produce the following net annual cash flows. Year $7,280 $10,400 $13,520 2 9,360 10,400 12,480 12,48010,400 11,440 Total $29,120 $31.200 $37,440 3 The equipment's salvage value is zero, and Doug uses straight-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 table. Compute each project's payback period. (Round answers to 2 decimal places, e.g.15.25.) 2.50 years 2.20 years 1.75 years

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