- 1 2 3 Crane's Custom Construction Company is considering three new projects, each requiring an equipment investment of $24,860. Each project will last for 3 years and produce the following net annual cash flows. Year 1 2 $7.910 10.170 13,560 $31,640 BB $11,300 11,300 11,300 $33,900 CC $14,690 13,560 12.430 $40,680 3 Total The equipment's salvage value is zero, and Crane uses straight-line depreciation. Crane will not accept any project with a cash payback period over 2 years. Crane'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, eg. 15.25) AA years BB years E ORA Question 5 of 6 -72 AA years BB years years Which is the most desirable project?