Doug's Custom Construction Company is considering three new projects, each requiring an equipment investment of $23, 980. Each project will last for 3 years and produce the following net annual each flows. The equipment salvage value is zero, and Doug uses straight-line depreciation. Doug will accept any project with a cash payback period over 2 years. Doug's required rate of return is 12% Complete each projects payback period. Which is the most desirable project? What is the least desirable project? Compute the net present value of each project. Which is the most desirable project based on net present value? Which is the least desirable project based on net present value