Crane's Custom Construction Company is considering three new projects, each requiring an equipment investment of $\backslash (\backslash$$ $24,860\backslash ).$ Each project will last for $3$ years and produce the following net annual cash flows.

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 $\backslash (12\backslash \%\backslash ).$ Click here to view PV table.

$($a$)$

Compute each project's payback period. $($Round answers to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

AA

years

BB

years

CC

years

Which is the most desirable project?