Pronghorn Manufacturing Company is considering three new projects, each requiring an equipment investment of $25.900. Each project will last for 3 years and produce the following cash flows. Year AA BB 1 $8,300 $11.200 $12,300 2 10.300 11.200 11,300 3 16,300 11.200 10,300 Total $34.900 $33,600 $33.900 The salvage value for each of the projects is zero. Pronghorn uses straight-line depreciation. Pronghorn will not accept any project with a payback period over 2.2 years. Pronghorn's minimum required rate of return is 12% Compute each project's payback period. (Round answers to 2 decimal places, eg 52.75.) AA BB CC Payback period 2.45 years 2.31 years 2.22 years Indicating the most desirable project and the least desirable project using this method. Most desirable Project CC Least desirable Project AA Compute the net present value of each project. (Use the above table.) (Round factor values to 5 decimal places, eg. 1.25124 and final answers to decimal places, eg. 5,275.) AA BB CC Net present value Indicating the most desirable project and the least desirable project using this method. Most desirable Least desirable