Newman Automobiles Manufacturing is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $10,500,000 $570,000 Useful life 5 years 5 years Estimated annual net cash inflows for 5 years $2,100,000 $102,000 Residual value $50,000 $35,000 Depreciation method Straight - line Straight-line Required rate of return 14% 14% Calculate the payback period for Proposal X O A. 8 years B. 5 years C. 4 years OD. 9 years