Coffer Co. is analyzing two projects for the future. Assume that only one project can be selected. If the company is using the payback period method and it requires a payback of three years or less, which project should be selected? Project X = Cost $112,000, Net cash flow $28,000 each year. Project Y = Cost $55,000, Net cash flow $15,000 each year. Neither X nor Y is an acceptable project. Both X and Y are acceptable projects. Project Y. Project X.