Porter Co, is analyzing two projects for the future. Assume that only one project can be selected, Project X $68,000 Project $60,000 Cost of machine Net cash flow: Year 1 Year 2 Year 3 Year 4 24,000 24,000 24,000 0 4,000 26,000 26,000 20,000 the company is using the payback period method and it requires a payback of three years or less, which project should be selected? Multiple Choice Project Neither X nor Y is an acceptable project. Project Y because it has a lower initial investment Both X and Yale acceptable projects. if the company is using the payback period method and it requires a payback of three years or loss, which project should be selected? Multiple Choice Project X Neither X nor is an acceptable project. Project because it has a lower initial investment Both X and Y are acceptable projects Project