Your company is considering two mutually exclusive projects, X and Y whose costs and cash flows are shown below. Assume that the projects are equally risky, and their cost of capital is 12%. Year 0 1 2 3 4 Project X $(5,500) 1,000 1,500 2,000 4,500 Project Y $(5,500) 4,500 1,500 1,000 800 What are the projects' payback periods? Payback for Project X is 3.22 years, and Project Y is 1.67 years. Payback for Project X is 2.33 years, and Project Y is 3.33 years. Payback for Project X is 2.22 years, and Project Y is 1.67 years. Payback for Project X is 3.33 years, and Project Y is 1.23 years