Question 2 0.5 pts Newman Automobiles Manufacturing is considering two alternative investment proposals with the following data: Proposal X Proposal $10,700,000 $580,000 5 years $2,140,000 $103,000 $50,000 $26,000 Straight-line Straight-line Investment Useful life 5 years Estimated annual net cash inflows for 5 years Residual value Depreciation method Required rate of return 12% 13% Calculate the payback period for Proposal X 5 years 4 years 9 years 8 years