Pina Colada Manufacturing Company is considering three new projects, each requiring an equipment investment of $25,600. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $8,200 $11.100 $12,200 2 10,200 11,100 11,200 3 16.200 11.100 10,200 Total $34,600 $33,300 $33,600 The salvage value for each of the projects is zero. Pina Colada uses straight-line depreciation. Pina Colada will not accept any project with a payback period over 2.2 years. Pina Colada's minimum required rate of return is 12% Click here to view PV tables (a) Compute each project's payback period. (Round answers to 2 decimal places, eg: 52.75) AA BB CC Compute each project's payback period. (Round answers to 2 decimal places, eg. 52.75.) AA BB Payback period CC years years years Indicating the most desirable project and the least desirable project using this method. Most desirable Least desirable Novak Company has hired a consultant to propose a way to increase the company's revenues. The consultant has evaluated two mutually exclusive projects with the following information provided for each: Capital investment Project Snake $680,000 Project Turtle $1.160,000 191,000 10 years Annual cash flows 116,000 Estimated useful life 10 years Novak Company uses a discount rate of 9% to evaluate both projects, Click here to view PV tables (a) Calculate the net present value of both projects. (Use the above table.) (Round factor values to 5 decimal places, es 1.25124 and final answers to decimal places, es 5,275) Project Turtle Project Snake Net present value $ $