Redwood Corporation is considering two alternative investment proposals with the following data: Proposal X $800,000 8 years Proposal Y $463,000 8 years Investment Useful life Estimated annual net cash inflows for 8 years $120,000 $60,000 Straight- line 18% $61,000 Residual value Depreciation method Required rate of retunm Straight- line 9% How long is the payback period for Proposal Y? O A. 13.27 years O B. 7.59 years O C. 7.68 years O D. 667 years