Redwood Corporation is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $860,000 $456,000 Useful life 10 years 10 years Estimated annual net cash inflows for 10 years $105,000 $70,000 Residual value $13,000 Depreciation method Straight-line Straight-line Required rate of return 16% $- What is the accounting rate of return for Proposal X? (Round any intermediary calculations to the nearest dollar, and round your final answer to the nearest hundredth of a percent, X.XX%) OA 535% O B. 2.21% O c. 12.21% OD 2.36%