Current Attempt in Progress - Your answer is partially correct. Sheridan's Custom Construction Company is considering three new projects, each requiring an equipment investment of $23,100. Each project will last for 3 years and produce the following net annual cash flows. Year AA BB CC 1 2 $7,350 $10,500 $13,650 9 ,450 10,500 12,600 12,600 10,500 11,550 $29.400 $31,500 $37,800 3 Total The equipment's salvage value is zero, and Sheridan uses straight-line depreciation. Sheridan will not accept any project with a cash payback period over 2 years. Sheridan's required rate of return is 12%. Click here to view PV table. Compute each project's payback period. (Round answers to 2 decimal places, e8. 15.25.) 2.5 years The least desirable project based on payback period is Project AA : (b) Compute the net present value of each project. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es (45). Round final answers to the nearest whole dollar, eg. 5,275. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) AA BB Which is the most desirable project based on net present value? The most desirable project based on net present value is Project CC Which is the least desirable project based on net present value? The least desirable project based on net present value is Project AA