Current Attempt in Progress Novak's Custom Construction Company is considering three new projects, each requiring an equipment investment of $24,420. Each project will last for 3 years and produce the following net annual cash flows. Year AA BB CC 1 $7.770 $11,100 $14,430 2 Unresolved 11,100 13,320 3 13,320 11,100 12,210 Total $31,080 $33,300 $39,960 The equipment's salvage value is zero, and Novak uses straight-line depreciation. Novak will not accept any project with a cash payback period over 2 years. Novak's required rate of return is 12%. Click here to view PV table. (a) Compute each project's payback period (Round answers to 2 decimal places, e.g. 15.25.) AA years BB years years Which is the most desirable project