Swifty Manufacturing Company is considering three new projects, each requiring an equipment investment of $28,600. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $9,200 $12,100 $13,200 2 11,200 12,100 12,200 3 17,200 12,100 11,200 Total $37,600 $36,300 $36,600 The salvage value for each of the projects is zero. Swifty uses straight-line depreciation. Swifty will not accept any project with a payback period over 2.3 years. Swifty's minimum required rate of return is 12% Click here to view PV tables