Coffer Company is analyzing two potential investments. Cost of machine Net cash flow: Year 1 Year 2 Year 3 Year 4 Project X $ 98,390 Project Y $ 68,000 34,500 3,300 34,500 31,500 34,500 31,500 17,000 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? Project Y Project X Both X and Y are acceptable projects Nother X nor Y is on occeptable project Project Y because it has a lower initial investment