heffields Custom Construction Company is considering three new projects, each requiring an equipment investment of $25,520. Each project will last for 3 years and produce the following net annual cash flows.

Year		AA		BB		CC
1		$8,120		$11,600		$15,080
2		Unresolved		11,600		13,920
3		13,920		11,600		12,760
Total		$32,480		$34,800		$41,760

The equipments salvage value is zero, and Sheffield uses straight-line depreciation. Sheffield will not accept any project with a cash payback period over 2 years. Sheffields required rate of return is 12%. Click here to view PV table.