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Porter Company is analyzing two potential investments. Project X Project Y Initial investment $ 95,400 $ 76,000 Net cash flow: Year 1 32,000 5,600 Year

Porter Company is analyzing two potential investments. Project X Project Y Initial investment $ 95,400 $ 76,000 Net cash flow: Year 1 32,000 5,600 Year 2 32,000 34,000 Year 3 32,000 34,000 Year 4 0 28,000

If the company is using the payback period method, and it requires a payback of three years or less, which project(s) should be selected?

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