Suzaki Manufacturing Company is considering three new projects, each requiring an equipment investment of $22,000. Each project will last for 3 years and produce the following cash inflows. Year AA BB CC 1 $ 7,000 $ 9,500 $13,000 2 9,000 9,500 10,000 3 15,000 9,500 9,000 Total $31,000 $28,500 $32,000 The equipment's salvage value is zero. Suzaki uses straight-line depreciation. Suzaki will not accept any project with a payback period over 2 years. Suzaki's minimum required rate of return is 12%