Initial Project Investment Project w $ 750 Project X $ $ 690 Project Y $ 875 Project Z $ 830 Projected Cash Flow Year Project w Project x Project Y Project Z 1 $ 100 $ 75$ 125$ 65 2 $ 230$ 150 $ 325$ 90 3 $ 330$ 300 $ 425$ 175 4 $ 325$ 320$ 425 $ 235 5 $ 420$ 325$ 510 $ 360 Refer to the above cash flow chart for four prospective projects. Which of the following is true? a. Project X has a payback period of more than 5 years. a O b. Project Z has a payback period of more than 5 years. O c. Project W has a payback period of less than 3 years. O d. Project Y has a payback period of less than 4 years