Beck Department Stores is considering two possible expansion plans. One proposal involves opening 5 stores in Indiana at the cost of $1,810,000. Under the other proposal, the company would focus on Kentucky and open 6 stores at a cost of $2,400,000. The following information is available: Indiana proposal Kentucky proposal Required investment $1,810,000 $2,400,000 Estimated life 9 years 9 years Estimated residual value $50,000 $70,000 Estimated annual cash inflows over the next 9 years $500,000 $900,000 Required rate of return 6% 6% The payback period for the Kentucky proposal is closest to O A. 34.29 years OB. 2.67 years OC. 2.89 years OD. 2.59 years Click to select your answer and then click Check Answer. All parts showing Clear All Final Check