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Q1) Coffer Co. is analyzing two projects for future. Suppose that only one project can be selected.

  Project X Project Y
Cost of machine $68,000 60,000
Net cash flow: 
Year 1 24,000 4,000
Year 2 24,000 26,000
Year 3 24,000 26,000
Year 4 0 20,000

If company is using payback period method and it needs payback of three years or less, which project must be selected?

A. Project X.
B. Neither X nor Y is an acceptable project.
C. Both X and Y are acceptable projects.
D. Project Y.
E. Project Y because it has a lower initial investment.

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