Current Attempt in Progress Cheyenne Manufacturing Company is considering three new projects, each requiring an equipment investment of $23,500. Each project will last for 3 years and produce the following cash flows. Year AA BB CC 1 $7,500 $10,200 $11,500 2 9,500 10,200 10,500 3 15,500 10,200 9,500 Total $32,500 $30,600 $31,500 The salvage value for each of the projects is zero. Cheyenne uses straight-line depreciation. Cheyenne will not accept any project with a payback period over 2.2 years. Cheyenne's minimum required rate of return is 12%. Click here to view PV tables.