Cullumber's Custom Construction Company is considering three new projects, each requiring an equipment investment of $25,080. Each project will last for 3 years and produce the following net annual cash flows. Year 1 (a) Total 2 AA 3 BB CC AA BB CC The equipment's salvage value is zero, and Cullumber uses straight-line depreciation. Cullumber will not accept any project with a cash- payback period over 2 years. Cullumber's required rate of return is 12%. Click here to view PV table. $7,980 $11,400 $14,820 10,260 11,400 13,680 13,680 11,400 $31,920 $34,200 12,540 Compute each project's payback period. (Round answers to 2 decimal places, e.g. 15.25.) $41,040 years years years

Cullomber's Custom Construction Compary is considering three new projects, each requiring an equipment investment of $25,080. Each project will last for 3 years and produce the following net anrual casti flows. The equipment's salvage value is zero, and Cullumber uses straight -line depreclation. Cullumber will not accept any project with a cash paytuck period over 2 years. Cullumber's required rate of return is 12%. Click here to view PV table (a) Compute each project's payback period, (Round answers to 2 decind ploces, es 15.25y A vears BB years CC years