Question5 Coffer Co. is analyzing two projects for the future. Assume that only one project can be selected. Project X $77,000 Project Y $55,000 Cost of machine Net cash flow: Year 1 Year 2 Year 3 Year 4 28,000 28,000 28,000 2,000 25,000 25,000 20,000 If the company is using the payback period method and it requires a payback of three years or less, which project should be selected? O Project Y O Project X. O Both X and Y are acceptable projects. O Neither X nor Y is an acceptable project O Project Y because it has a lower initial investment