Jack's Custom Manufacturing Company is considering three new projects. Each one requires an equipment investment of $25,200, will last for three years, and will produce the following net annual cash flows: Year AA CC $9,984 $7,280 $13,520 1 9,984 2 9,360 9,360 3 12,480 9,984 11,440 $29,120 $29,952 $34,320 Total 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%