8 years Redwood Corporation is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $800,000 $494,000 Useful life 8 years Estimated annual net cash inflows for 8 years $135,000 $83,000 Residual value $37,000 $- Depreciation method Straight-line Straight-line Required rate return 15% 14% How long is the payback period for Proposal Y? A. 5.95 years OB. 5.93 years O c. 21.62 years OD. 13.35 years