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 AA BB CC 1 $7,910 $11,300 $14.690 2 10.170 11,300 13,560 3 13.560 11,300 12,430 Total $31,640 $33,900 $40,680 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 the factor table. (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 15.25.) AA BB CC years years years Which is the most desirable project? The most desirable project based on payback period is Which is the least desirable project?