Problem 12-6 (Algo) Payback method [LO12-3] Assume a $230,000 investment and the following cash flows for two products: Year 1234 Product X $ 60,000 80,000 50,000 Product Y $ 80,000 80,000 60,000 60,000 40,000 a. Calculate the payback for products X and Y. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Answer is complete but not entirely correct. Product X Product Y 5.09 years 3.00 years b. Which alternative would you select under the payback method? Product Y is selected O Product X is selected