Exercise 26-2 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 cash flows. Year AA dy 1 $7,630 $10,900 $14,170 2 9,810 10,900 13,08 3 13,080 10,900 11,990 Total $30,520 $32.700 39,24 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