Coffer Company is analyzing two potential investments. 00 8 Project X Project Y $ 83,850 $ 64,000 Cost of machine Net cash flow: Year 1 Year 2 Year 3 Year 4 & 02:51:34 32,500 32,500 32,500 0 2,900 29,500 29,500 42,000 If the company is using the payback period method, and it requires a payback period of three years or less, which project(s) should be selected? Multiple Choice Project Y Project X. O Both X and Y are acceptable projects. O Neither X nor Y is an acceptable project