Current Attempt in Progress Doug's Custom Construction Company is considering three new projects, each requiring an equipment investment of $24,640. Each project will last for 3 years and produce the following net annual cash flows. Year AA BB CC 1 $7,840 $11,200 $14,560 2 10,080 11,200 13,440 3 13,440 11.200 12,320 Total $31,360 $33,600 $40,320 The equipment's salvage value is zero, and Doug uses straight-line depreciation. Doug will not accept any project with a cash payback period over 2 years. Doug's required rate of return is 12%. Click here to view PV table.