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Assume a $70,000 investment and the following cash flows for two alternatives. Year Investment X Investment Y $ $ 1 15,000 35,000 2 24,000 25,000

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Assume a $70,000 investment and the following cash flows for two alternatives. Year Investment X Investment Y $ $ 1 15,000 35,000 2 24,000 25,000 3 30,000 15,000 4 20,000 5 25,000 a. Calculate the payback for investment X and Y. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Investment X Investment Y Payback years years b. Which alternative would you select under the payback method? O Investment X O Investment Y

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