Oriole's Custom Construction Company is considering three new projects, each requiring an equipment investment of $23,100. Each project will last for 3 years and produce the following net annual cash flows. Year AA BB CC 1 $7,350 $10.500 $13,650 2 9,450 10,500 12,600 3 12.600 10,500 11,550 Total $29.400 $31,500) $37,800 The equipment's salvage value is zero, and Oriole uses straight-line depreciation. Oriole will not accept any project with a cash payback period over 2 years. Oriole's required rate of return is 12%. Click here to view the factor table (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 15.25.) AA 25 years BB 22 years CC 175 years (b) Compute the net present value of each project. (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45). Round final answers to the nearest whole dollar, e.g. 5,275. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) AA BB CC 35.6 Which is the most desirable project based on net present value? The most desirable project based on net present value is Project CC 4 Which is the least desirable project based on net present value? The least desirable project based on net present value is Project AA