Bramble Manufacturing Company is considering three new projects, each requiring an equipment investment of $22,900. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $7,300 $9,800 $11,300 2 9,300 9,800 10,300 3 15,300 9,800 9,300 Total $31,900 $29,400 $30,900 The salvage value for each of the projects is zero. Bramble uses straight-line depreciation. Bramble will not accept any project with a payback period over 2.2 years. Bramble's minimum required rate of return is 12%.

Bramble Manufacturing Company is considering three new projects, each requiring an equipment investment of $22,900. Each project will last for 3 years and produce the following cash flows. Year AA BB 1 $7,300 $9,800 $11,300 2 9,300 9,800 10,300 3 15,300 9,800 9,300 Total $31,900 $29,400 $30,900 The salvage value for each of the projects is zero. Bramble uses straight-line depreciation. Bramble will not accept any project with a payback period over 2.2 years. Bramble's minimum required rate of return is 12%. Click here to view PV tables. (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 52.75.) BB CC Payback period years years years Indicating the most desirable project and the least desirable project using this method. Most desirable Least desirable