Waterways Custom Construction Company is considering three new projects, each requiring an equipment investment of $27,500. Each project will last for 3 years and produce the following net annual cash flows.

Year		AA		BB		CC
1		$8,750		$12,500		$16,250
2		11,250		12,500		15,000
3		15,000		12,500		13,750
Total		$35,000		$37,500		$45,000

The equipments salvage value is zero, and Waterway uses straight-line depreciation. Waterway will not accept any project with a cash payback period over 2 years. Waterways required rate of return is 12%. Click here to view PV table. (a) Compute each projects payback period. (Round answers to 2 decimal places, e.g. 15.25.)

AA		enter your answer rounded to 2 decimal places	years
BB		enter your answer rounded to 2 decimal places	years
CC		enter your answer rounded to 2 decimal places	years