Jack's Custom Manufacturing Company is considering three new projects. Each one requires an equipment investment of $25,600, will last for three years, and will produce the following net annual cash flows:

Year		AA		BB		CC
1		$7,420			$10,176			$13,780
2		9,540			10,176			9,540
3		12,720			10,176			11,660
Total		$29,680			$30,528			$34,980

The equipment's salvage value is zero, and Jack uses straight-line depreciation. Jack will not accept any project with a payback period longer than two and a half years. Jack's required rate of return is 12%.

Calculate the net present value of each project