Newman Automobiles Manufacturing is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $10,000,000 $420,000 Useful life 5 years 5 years Estimated annual net cash inflows for 5 years $2,000,000 $95.000 Residual value $52,000 $27,000 Depreciation method Straight-line Straight - line Required rate of return 13% 11% Calculate accounting rate of return for Proposal Y. O A. 7.34% OB. 18.02% C. 11.71% OD. 11.78%