Blossom's Custom Construction Company is considering three new projects, each requiring an equipment investment of $24,640. Each project will last for 3 years and produce the following net annual cash flows. Year AA BB CC 1 $7,840 $11,200 $14,560 2 10,080 11,200 13,440 3 13,440 11,200 12,320 Total $31,360 $33,600 $40,320 The equipment's salvage value is zero, and Blossom uses straight-line depreciation. Blossom will not accept any project with a cash payback period over 2 years. Blossom'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, e.g. 15.25.) AA BB CC Which is the most desirable project? years years years The most desirable project based on payback period is Which is the least desirable project? The least desirable project based on payback period is