Martinez Manufacturing Company is considering three new projects, each requiring an equipment investment of $24,700. Each project will last for 3 years and produce the following cash flows.

Year		AA		BB		CC
1		$7,900		$10,900		$11,900
2		9,900		10,900		10,900
3		15,900		10,900		9,900
Total		$33,700		$32,700		$32,700

The salvage value for each of the projects is zero. Martinez uses straight-line depreciation. Martinez will not accept any project with a payback period over 2.2 years. Martinez's minimum required rate of return is 12%.

Pay back period of AA?

Pay back period of BB?

payback period of CC?

most desireble ?

least disirable?