Question 50 of 50 -18 1 Flint Manufacturing Company is considering three new projects, each requiring an equipment investment of $28,000. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $9,000 $11,900 $13,000 2 11,000 11,900 12,000 3 17,000 Total $37,000 11,900 $35,700 11,000 $36.000 The salvage value for each of the projects is zero. Flint uses straight-line depreciation. Flint will not accept any project with a payback period over 2.3 years. Flint's minimum required rate of return is 12%. Click here to view PV tables 3 (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 52.75) Payback period AA years BB years CC years