Sandhill's Custom Construction Company is considering three new projects, each requiring an equipment investment of $24,200. Each project will last for 3 years and produce the following net annual cash flows. The equipment's salvage value is zero, and Sandhill uses straight-line depreciation. Sandhill will not accept any project with a cash payback period over 2 years. Sandhill's required rate of return is 12%. Click here to view the factor table. (a) Compute each project's payback period, (Round answers to 2 decimal places, es. 15.25J years Which is the most desirable project? The most desirable project based on payback period is Which is the least desirable project? The least desirable project based on payback period is (b) Compute the net present value of each project. (Enter negotive amounts using either a negotive sign preceding the number eg -45 or parentheses es. (45). Round final answers to the nearest whole dollar, es 5,275. For calculation purposes, use 5 decimal places as displayed in the foctor table provideds) Which is the most desirable project based on net present value? The most desirable project based on net present value is Which is the least desirable project based on net present value? The least desirable project based on net present value is