Novak's Custom Construction Company is considering three new projects, each requiring an equipment investment of $24,420. Each project will last for 3 years and produce the following net annual cash flows. Year AA BB CC 1 $7,770 $11,100 $14,430 2 9,990 11,100 13,320 3 13,320 11,100 12,210 Total $31,080 $33,300 $39,960 The equipment's salvage value is zero, and Novak uses straight-line depreciation. Novak will not accept any project with a cash payback period over 2 years. Novak's required rate of return is 12%. . A. Compute each project's payback period. AA YEARS BB YEARS. CC YEARS. B. Compute the net present value of each project. AA YEARS. BB YEARS. CC YEARS