Based solely (only) on the calculated payback periods for each proposal which project is management likely to prefer for investment?

Griffith Vehicle has received three proposals for its new vehicle-painting machine. Information on each proposal is as follows: Initial investment in equipment Working capital needed Annual cash saved by operations: Year 1 Year 2 Year 3 Proposal X Proposal Y Proposal Z $240,000 $150,000 0 0 80,000 50,000 80,000 42,000 80,000 46,000 80,000 24,000 0 0 Year 4 Working capital returned a. Calculate the payback period for each proposal. $190,000 10,000 80,000 80,000 80,000 80,000 10,000