Coffer Co. is analyzing two projects for the future, Assume that only one project can be selected

cost of machine net cash flow: project X. $68.000 project Y.$60.000

year 1 : 24.000 4.000

year 2: 24.000 26.000

year 3 24.000 26.000

year 4 0 20.000

If the company is using the payback period method and it requirea a payback of three years or less, which project should be selected?

A. project Y

B. project X

C. both X and Y are acceptable projects

D. neither X nor Y is an acceptable project

E. project Y because it has a lower initial investment.