Wildhorse's Custom Construction Company is considering three new projects, each requiring an equipment investment of $26,840. Each project will last for 3 years and produce the following net annual cash flows. Year 1 2 (a) 3 AA AA BB 10,980 CC BB $8,540 $12,200 $15,860 14,640 12,200 CC 12,200 Total $34,160 $36,600 $43,920 The equipment's salvage value is zero, and Wildhorse uses straight-line depreciation. Wildhorse will not accept any project with a cash payback period over 2 years. Wildhorse's required rate of return is 12%. Click here to view PV table. 14,640 13,420 Compute each project's payback period. (Round answers to 2 decimal places, e.g. 15.25.) years years years

Wiidhorse's Custom Construction Company is considering three new projects, each requiring an equipment investment of $26,840. Each project will last for 3 years and produce the following net annual cash flow5. The equipment's salvage value is zero, and Wildhorse uses straight-line depreciation. Wildhorse will not accept any project with a cash payback period over 2 years. Wildhorse's required rate of return is 12%. Click here to view PV table. (a) Compute each project's payback period. (Round answers to 2 decimal places, es. 15.25.)