Doug'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. CC Year AABB $7,770 $11,100 2 9 ,990 11,100 3 13,320 11,100 Total $31,080 $33,300 $14,430 13,320 12,210 $39,960 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. (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 15.25.) 0.79 years 0.73 years 0.76 years (b) Compute the net present value of each project. nearest whole dollar, e.g. 5,275. For calcul 412 2240 7773