O'Mally Department Stores is considering two possible expansion plans. One proposal involves opening 5 stores in Indiana at the cost of $1,950,000. Under the other proposal , the company would focus on Kentucky and open 6 stores at a cost of $2,800,000. The following information is available: Indiana proposal Kentucky proposal Required investment $1,950,000 $2,800,000 Estimated life 8 years 8 years Estimated residual life $80,000 Estimated annual cash inflows over the next 10 years $600,000 $500,000 Required rate of return 8% 8% $50,000 The net present value of the Indiana proposal is closest to: (Click the icon to view the present value of $1 table.) O A. $3,475,200. O B. $1,525,200. OC. $1,471,200. OD. $1,498,200