Coffer Company is analyzing two potential investments.

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 $x.$

Project $Y.$

Project $Y$ because it has a lower initial investment.

Both $x$ and $Y$ are acceptable projects.

Neither $x$ nor $Y$ is an acceptable project.