last for 3 years and produce the following net annual cash flows Year AA 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 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%. Compute each project's payback period. (Round answers to 2 decimal places, e.g. 15.25.) Which is the most desirable project? The most desirable project based on payback period is Which is the least desirable project? The least desirable project based on payback period is