Assume a $$72,000$ investment and the following cash flows for two alternatives:

Year Investment X Investment Y

$1$ $$22,000$ $$22,000$

$220,00015,000$

$320,00040,000$

$410,000$

$530,000$

Calculate the payback period for investment X and investment Y$.($Do not round intermediate calculations. Round the final answers to $2$ decimal places.$)$

Payback period

Investment X years

Investment Y years

Which of the alternatives would you select under the payback method?

multiple choice

Investment X

Investment Y