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Assume a $72,000 investment and the following cash flows for two alternatives Year 1 2 Investment X Investment Y $22,000 $22,000 20,000 20,000 15,000 40,000

Assume a $72,000 investment and the following cash flows for two alternatives Year 1 2 Investment X Investment Y $22,000 $22,000 20,000 20,000 15,000 40,000 10,000 30,000 Calculate the payback period for investment X and investment Y. (Do not round intermediate calculations. Round the final answers to 2 decimal places.) Investment X Investment Y Payback period years years Which of the alternatives would you select under the payback method? O Investment X O Investment Y

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