O'Mally Department Stores is considering two possible expansion plans. One proposal involves opening 5 stores in Indiana at the cost of $1,800,000. Under the other proposal, the company would focus on Kentucky and open 6 stores at a cost of $2,100,000. The following information is available: Indiana proposal Kentucky groposal Required investment $1,800,000 $2,100,000 Estimated life 7 years 7 years Estimated residual value $20,000 $60,000 Estimated annual cash inflows over the next 9 years $200,000 $900,000 Required rate of retum 9% 9% The payback period for the Kentucky proposal is closest to O A 233 years B. 35.00 years OC. 2.27 years D. 2.50 years