Riverbed Manufacturing Company is considering three new projects, cach requiring an equipment investment of $26,200. Each project will last for 3 years and produce the following cash flows. Year AA BB $12,400 1 $8,400 $11,300 2 10,400 11,300 11.400 3 16.400 11,300 10,400 Total $35,200 $33.900 $34.200 The salvage value for each of the projects is zero. Riverbed uses straight-line depreciation. Riverbed will not accept any project with a payback period over 2.2 years. Riverbed's minimum required rate of return is 12% Click here to view PV tables. (a) Your Answer Correct Answer Your answer is correct Compute each project's payback period. (Round answers to 2 decimal places, e.g. 52.75.) Your Answer Correct Answer Your answer is correct. Compute each project's payback period (Round answers to 2 decimal places, e.g. 52.75.) AA BB CC Payback period 2.45 years 2.32 years 2.23 years Indicating the most desirable project and the least desirable project using this method, Most desirable Project CC : Least desirable Project AA eTextbook and Media Solution Attempts: 3 of 3 used Compute the net present value of each project. (Use the above table.) (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 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 e Textbook and Media Save for Later Attempts: 0 of 3 used Submit