Your answer is partially correct. Try again. Dougs 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 BB CC 1 $7,630 $10,900 $14,170 2 9,810 10,900 13,080 3 13,080 10,900 11,990 Total $30,520 $32,700 $39,240 The equipments salvage value is zero, and Doug uses straight-line depreciation. Doug will not accept any project with a cash payback period over 2 years. Dougs required rate of return is 12%.

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(a) Compute each projects payback period. (Round answers to 2 decimal places, e.g. 15.25.)'

(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