Assume a $92,000 investment and the following cash flows for two alternatives: Year 2 3 345 Investment X $27,000 20,000 15,000 30,000 30,000 Calculate the payback period for investment X and investment Y. (Do not round intermediate calculations. Round the fina decimal places.) Investment X Investment Y Investment Y $30,000 40,000 22,000 Investment X Which of the alternatives would you select under the payback method? Investment Y Payback period years years

Assume a $92,000 investment and the following cash flows for two alternatives: Calculate the payback period for investment X and investment Y. (Do not round intermediate calculations. Round the fir decimal places.) Which of the alternatives would you select under the payback method? Investment X Investment Y