Coffer Co, is analyzing two potential investments. Project X $77,000 Project Y Cost of machine $55,000 Net cash flow: 2,000 Year 1 28,000 Year 2 28,000 25,000 Year 3 28,000 25,000 Year 4 20,000 If the company is using the payback period method and it requires a payback of three years or less, which project(s) should be selected? Multiple Choice Project Y Both X and Y are acceptable projects. Project Y because it has a lower initial investment Project X acceptable project Neither X nor Y is an