Coffer Company is analyzing two potential investments. Project X Cost of machine Net cash flow: Year 1 Year 2 Year 3 Year 4 $ 77,000 Project Y $ 55,000 28,000 2,000 28,000 25,000 28,000 25,000 0 20,000 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.